Financial and Banking News
BUDGETS AND REVENUES
US Aid Withheld to force Egyptian Reforms
A spokesman for the US State Department last week confirmed that a total of$230mn worth of US aid over two years has been withheld from Egypt until thelatter undertakes "significant economic reforms which are additional tothose which were undertaken in previous fiscal years." $115mn worth of USassistance approved for each of the 1988 and 1989 fiscal years has beenwithheld,...