US says it supports IMF efforts to aid Egypt

WASHINGTON (AP) ? 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 that 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.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-03-03-US-Egypt/id-b6230aa861db445ea957afc1d3121d4f

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