Financial And Banking

AID FLOWS

US Releases $150mn Emergency Aid To Egypt

The US Administration has agreed to release $150mn in frozen aid to Egypt, according to the Assistant Secretary of State Richard Murphy in a statement to reporters in Cairo last week. The announcement comes only three weeks after Secretary of State George Shultz told Congress that the aid, part of $500mn in supplemental assistance for FY 1986, would not be disbursed until Egypt carries out specific economic reforms...