A senior official at the World Bank stated that they are expecting the Egyptian government to request international aid in stabilizing the current payment balance deficit, which amounted to $2.4 billion in fiscal year 2001, reported Al-Hayat. The Egyptian Affairs Director at the World Bank, Mahmoud Ayoub also said that the representatives of donor countries are expected to approve up to two billion dollars in aid for Egypt after they meet in Sharem El-Sheikh. Ayoub attributed the balance deficit to declining foreign currency revenues from tourism. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
