Egypt: US prepares to cut $1 billion from debt to back democracy

By: Steven Lee Myers, NY Times, September 3, 2012 Nearly 16 months after first pledging to help Egypt's failing economy, the Obama administration is nearing an agreement with the country's new government to relieve $1 billion of its debt as part of an American and international assistance package intended to bolster its transition to democracy, administration officials said. The administration's efforts, delayed by Egypt's political turmoil and by wariness in Washington about new leaders emerging from its first free elections, gained new urgency in recent weeks, even as the United States risks losing influence and investment opportunities to countries like China.

http://www.nytimes.com/2012/09/04/world/middleea...

Egypt United States Middle East and North Africa economic aid debt relief