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Write Off of Egypt's US Military Debt Is Completed
President George Bush issued a directive on 28 December, ordering the USTreasury and the Pentagon to write down to zero Egypt's military debt to the US.The move was the final stage in the President's four-month campaign to cancelthe $6.7bn of debt and accumulated arrears as a reward for Egypt's staunchsupport for the US position during the Gulf crisis. In a memorandum to...