US says it supports IMF efforts to aid Egypt

AP News
Posted: Mar 03, 2012 11:07 AM
US says it supports IMF efforts to aid Egypt

The U.S. says it backs International Monetary Fund efforts to aid Egypt _ a statement of support that follows the recent departure from Egypt of Americans on trial over charges their pro-democracy organizations fomented unrest.

The lifting of a travel ban eased a diplomatic dispute over the case between the longtime allies, with the U.S. warning that more than $1 billion in aid to Egypt was at risk. Another potential penalty was possibly using the U.S. vote on the IMF board to reject aid for Egypt, which is seeking a loan agreement for more than $3 billion.

But the State Department said Saturday the U.S. supports IMF efforts to reach a deal and find ways to assist the Egyptian economy.