Monthly Archives: July 2013

#Egypt economy stabilizes, for now, as Arab pledges buy time

Egypt‘s ailing economy has stabilized somewhat after this month’s military intervention unlocked billions of dollars in aid pledges from Arab nations—a development several economists see as a temporary reprieve from the economic woes that overwhelmed ousted President Mohammed Morsi. For … Continue reading

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#Egypt rules out war with #Ethiopia over Nile River Hydropower Dam

Egypt has no plans to go to war with Ethiopia over the Horn of Africa nation’s construction of a hydropower dam on the Nile River, said Mona Omar, special envoy for Interim Egyptian President Adly Mansour. Former Egyptian President Mohamed … Continue reading

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#Beblawy: US Treasury Secretary emphasizes US support for #Egypt

US Treasury Secretary Jack Lew said the US administration understands the economic situation in Egypt and is ready to support it. This came in a telephone call between him and Prime Minister Dr. Hazem El Beblawy. During the conversation, Lew … Continue reading

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U.S. sidesteps decision whether to cut off aid to Egypt

The Obama administration sidestepped a decision on cutting off most of the annual $1.55 billion (£1 billion) of U.S. aid to Egypt by saying on Thursday it does not plan to rule on whether a military coup took place in … Continue reading

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World Bank chief says hopes to continue #Egypt programs

The World Bank hopes to continue its programs in Egypt following the military ousting of the country’s first democratically elected leader, bank president Jim Yong Kim said to reporters on Thursday during a visit in Chile. The bank, which Kim … Continue reading

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#Egypt PM dispute stalls government, Islamists call more protests

Egypt‘s political transition after President Mohamed Mursi was ousted by the military stumbled at the first hurdle, after the choice of liberal politician Mohamed ElBaradei as interim prime minister was thrown into doubt by Islamist objections. ElBaradei’s nomination had been … Continue reading

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#Egypt’s financial position may be even worse than previously estimated

Egypt‘s crumbling public finances may be in even worse shape than previously estimated. While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt’s debt insurance costs have tumbled, data shows that … Continue reading

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