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2/22/11

Egypt seeking debt relief from European Union

Egypt has asked Britain for its support in seeking debt forgiveness from Europe, the Finance Ministry said Tuesday, in the latest push to boost an economy bruised by weeks of protests that toppled President Hosni Mubarak.

Finance Minister Samir Radwan also said in a statement that the current government's immediate priorities center on helping Egyptians directly affected by the 18 days of protests, as well as enacting quick measures that could boost the economy.

The protests that led to Mubarak's ouster after nearly 30 years in power ravaged Egypt's economy, forcing banks to close, businesses to shut down and banks and the stock market to halt operations. The bourse on Tuesday further postponed the resumption of trading until next week, not specifying a date.

For more: The Associated Press: Egypt seeking debt relief from European Union

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