Financial and Banking News
AID FLOWS
US Withholds Emergency Aid to Egypt
The US Administration is withholding $150mn of a one-time emergency aid package to Egypt pending further action on economic reforms in the country. The sum being withheld is part of $500mn in supplemental assistance in addition to the annual aid for 1986 of $2.5bn. Last October the US government paid Egypt the first installment in the emergency package worth $250mn (MEES, 7 October 1985).
Secretary of State George...
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