Egypt asks UK for debt help

Steve Dinneen
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Egypt has asked the UK to help it cancel its debt with the EU.

Finance minister Samir Radwan revealed he held talks with new UK trade minister Lord Stephen Green. Egypt wants the EU to halt interest payments and consider cancelling the entire debt, as the North African country seeks to get back on its feet following the overthrow of Hosni Mubarak.

It also wants the UK to increase the level of investment in the country.

The new government said it would continue with dramatic economic reforms and would seek to compensate those who had property damaged or lost jobs as a result of the protests.

Meanwhile, EU finance ministers yesterday discussed freezing the assets of a string of high-profile former Egyptian officials.

The UK, US and France confirmed the request but said Mubarak was not on the list.

Mubarak, who resigned on Friday after weeks of protests, and other senior officials are suspected of having sent billions of dollars of assets abroad. Protesters have called for the cash to be clawed back to help alleviate poverty in Egypt.