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SITUATION REPORT

Dec 17, 2012 | 13:21 GMT

Egypt: Germany Postpones Debt Relief Plan

Germany has postponed a partial debt relief plan for Egypt worth 240 million euros (roughly $316 million) while expressing concerns of an emerging dictatorship in the country, German Development Minister Dirk Niebel said Dec. 17, DPA reported, citing Berliner Zeitung. There is a danger that the dictatorial system under former Egyptian President Hosni Mubarak is being resurrected by other people, Niebel said. Germany has reduced its contacts with the Egyptian government indefinitely, he said. The Muslim Brotherhood and Egyptian President Mohammed Morsi are betting that they can achieve their immediate political goals without risking too much on the economic front.

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