Egypt denies asking Algeria for $2 bn in economic aidOctober 23, 2012 - 19:58 AMT PanARMENIAN.Net - Egypt's prime minister denied a report that he asked Algeria's government for $2 billion to shore up a struggling economy during an official visit to the country this week, Egypt's state news agency reported, according to Reuters. Egypt is seeking assistance from foreign donors and the International Monetary Fund to curb its budget deficit and avert a balance of payments crisis. Cairo is trying to revive an economy hit by political turmoil sparked by last year's Arab Spring uprising. Two official sources confirmed to Reuters on Monday that Cairo was seeking aid from energy-rich Algeria, although they said the form of assistance was not clear. One said the amount in question was around $2 billion. "The Egyptian government didn't propose this request," MENA cited Prime Minister Hisham Kandil as saying in a meeting with Algerian media. A Monday report in newspaper al-Masry al-Youm did not give a direct quote from its source, but wrote that: "An official source said that Egypt will negotiate a deposit worth $2 billion to be put in the central bank". Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Armenia, India hold first defense consultations The meeting was attended by Indian Ambassador Nilakshi Saha Sinha and Defense Attaché Brigadier General Naveen Nijhawan. Civil disobedience campaigns continue in Yerevan People demanding Prime Minister Nikol Pashinyan’s resignation again blocked streets in Yerevan on May 15. Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan. |