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US nears deal for in Egypt debt relief

The Obama administration is set to give Egypt’s new government US$1 billion.

US president Barack Obama. Picture: AFP.
Barack Obama,Egypt,United States,Cairo,Mohammed Mursi,US helps in Egypt debt relief
World


WASHINGTON - The Obama administration is close to a deal with Egypt's new government for $1 billion (R8.4bn) in debt relief, a senior US official said on Monday, as Washington seeks to help Cairo shore up its ailing economy in the aftermath of its pro-democracy uprising.

US diplomats and negotiators for Egypt's new Islamist president Mohamed Mursi are working to finalize an agreement but the deal is not yet done, the official said.

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