FINANCIAL NEWS

Egypt asks for debt slashing from EU

23 Feb 2011

(MENAFN) Egypt’s Finance Minister, Samir Radwan, said that the country requested the UK’s help in relieving its debt in an attempt to revive its economy which was injured in the past 3 weeks, reported Gulf News.

The minister said Egypt asked Britain for either providing debt forgiveness from Europe or at least a forgiveness of the interest on the loans. Egypt currently owes the EU a total of USD9 billion, he added.

Radwan said that the Egyptian government is currently focused on helping Egyptians directly affected by the recent unrest and taking fast steps to strengthen the economy.

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