BREAKING NEWS

Minister: Egypt to get help from wheat suppliers

By REUTERS

MARCH 30, 2013 10:26

CAIRO - Egypt will receive payment facilities from its American and European suppliers of wheat, an Egyptian newspaper on Saturday quoted minister of supplies Bassem Ouda as saying, as the world's biggest wheat importer struggles to pay for imports.

Two years of turmoil since the overthrow of Egyptian President Hosni Mubarak has badly hit an economy starved of tourism revenues.

"The American and European exporters of wheat will provide payment facilities to Egypt to import wheat during a period of up to nine months," Ouda told Al-Shorouk newspaper. He did not say whether Egypt would be given a full nine-month window to pay or whether payments would be divided over nine months.

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