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...