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Egypt and U.S. Near Deal on Debt Relief

(Washington Post) Michael Birnbaum - The U.S. is nearing an agreement with Egypt's new government to eliminate a significant portion of the $3.2 billion it owes the U.S., American officials said Monday. U.S. officials have been in Cairo since last week hammering out the details of the debt relief package, which could approach $1 billion. Much of the money for the U.S. debt-relief package would come from funds that had previously been allocated for aid to Egypt and Afghanistan but were not spent. Much of the U.S. non-military aid destined for Egypt was put on hold after the January 2011 protests that toppled Mubarak, especially after the cabinet minister responsible for international aid pushed for the prosecution of employees of several non-governmental organizations funded by the U.S.
2012-09-04 00:00:00
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