VOL. XLIII

No. 20

15-May-2000

EGYPT

Egypt Accepts Foreign Loan Offers To Ease Liquidity And Starts To Pay Domestic Debt

Egypts Prime Minister 'Atif 'Ubaid announced on 7 May that Egypt would accept loan offers from international organizations to finance the countrys current liquidity crisis (see MEES, 8 May). According to a Dow Jones report, Dr 'Ubaid said that the African Bank and the Islamic Bank had already offered financial assistance, while the World Bank plans to grant $750mn to finance...