VOL. XXXII

NO. 23

13-MARCH-1989

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,...