U.S. Holds Up $230 Million in Aid for Egypt
The United States is holding up $230 million in aid for Egypt because President Hosni Mubarak’s government has failed to adopt acceptable economic reforms, State Department spokesman Charles Redman said Wednesday.
Redman denied that the aid was contingent on Egypt’s agreeing with the International Monetary Fund on an economic austerity package.
Egyptian sources said, however, that the United States is tying its decision to IMF conditions, which they said may be applicable in general but would be difficult to implement in Egypt because of the low incomes of many.
The sources noted recent rioting over IMF reforms in Venezuela and Algeria.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
