BREAKING NEWS

Egypt asks Britain for support with EU debt relief

By ASSOCIATED PRESS

FEBRUARY 22, 2011 14:09

CAIRO — Egypt has asked Britain for its support in seeking debt forgiveness from Europe, the Finance Ministry said Tuesday, in the latest push to boost an economy bruised by almost three weeks of protests that toppled President Hosni Mubarak.

Finance Minister Samir Radwan also said in a statement that the current government's immediate priorities center on helping Egyptians directly affected by the 18 days of protests, as well as enacting quick measures that could boost the economy.

The 18 days of protests that led to Mubarak's ouster after nearly 30 years in power ravaged Egypt's economy, forcing banks to close, businesses to shutter and the stock market to halt operations. The bourse on Tuesday further postponed the resumption of trading until next week, but did not specify a date.

Radwan, in a meeting with British Trade and Investment Minister Lord Stephen Green, said he would like London's help in either securing debt forgiveness from Europe, or at least a forgiveness of the interest on the loans.

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