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Kerry: US to release millions to aid Egypt



Published: Mon, March 4, 2013 @ 12:00 a.m.

Associated Press

CAIRO

U.S. Secretary of State John Kerry on Sunday rewarded Egypt for President Mohammed Morsi’s pledges of political and economic reforms by releasing $250 million in American aid to support the country’s “future as a democracy.”

Yet Kerry also served notice that the Obama administration will keep close watch on how Morsi, who came to power in June as Egypt’s first freely elected president, honors his commitment and that additional U.S. assistance would depend on it.

“The path to that future has clearly been difficult and much work remains,” Kerry said in a statement after wrapping up two days of meetings in Egypt, a deeply divided country in the wake of the revolution that ousted longtime President Hosni Mubarak.

Egypt is trying to meet conditions to close on a $4.8 billion loan package from the International Monetary Fund. An agreement would unlock more of the $1 billion in U.S. assistance promised by President Barack Obama last year and set to begin flowing with Kerry’s announcement.

Kerry cited Egypt’s “extreme needs” and Morsi’s “assurances that he plans to complete the IMF process” when he told the president that the U.S. would provide $190 million of a long-term $450 million pledge “in a good-faith effort to spur reform and help the Egyptian people at this difficult time.”


Comments

1Photoman(1000 comments)posted 1 year, 5 months ago

Our president recently concluded a tour telling us how sequestration would cut jobs, cut the military, etc., yet, apparently, it does not impact the gifting of a billion dollars to Egypt. Am I alone in thinking that this is insanity?

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2redvert(2056 comments)posted 1 year, 5 months ago

I am amazed that we are still functioning after a few days in sequestration. That being said, I agree with you Photoman, we need to look after ourselves first instead of trying to buy friendship which doesn't always work even as we pay!

Don't you love how the government talkers come up with fancy buzz words to describe a situation, for example "sequestration." Before this we had the "fiscal cliff"

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