News Summary: Egypt on $30 billion search for aid

News Summary: Egypt knocks on world's door for loans, aid to tune of $30 billion

Associated Press

DRAINING CASH: Egypt has been knocking on doors seeking billions of dollars in loans, bond purchases and grants, trying to fill rapidly draining coffers.

SUMMER DEMAND: The drive appears to have accelerated ahead of the summer, when the country's fragile electricity network often breaks down and when officials have predicted a drop in wheat supplies.

SOME WARINESS: Overall, Egypt has sought or is in talks for more than $30 billion since the fall of autocrat Hosni Mubarak. Several states have responded in recent weeks. But a few countries have balked, wary of pouring money into Egypt's worsening economy without some political stability after two years of turmoil since the Mubarak's fall.

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