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Fri December 9, 2011
U.S. Faces Financial Troubles As Egypt Needs Aid
The U.S. has poured $28 billion of economic assistance into Egypt in recent decades. But now when Egypt's needs are the greatest, the U.S. and Europe are cash strapped. The Obama administration is trying to quickly reprogram aid to make sure it helps bolster democratic forces in the country and creates jobs to help ease the country's transition. The International Monetary Fund's chief Christine Lagarde says her door is open as well, but countries like Egypt need to ask for aid, which does come with some conditions. Meanwhile, leading members of Congress say the U.S. has to also start imposing conditions, particularly on U.S. military aid.