U.S. lining up aid to help stabilize Egypt

The Egyptian Finance Ministry has estimated that the unrest cost the economy about $310 million a day, and some private analysts have estimated that investors have been withdrawing funds at a rate of about $1 billion a day. Before the protests, Egypt was expected to have 5% annual economic growth; now the consensus is closer to 1%.

Dunne, with the Carnegie Endowment for International Peace, said if Egyptians have high expectations about economic opportunities and instead conditions worsen, “it could really sour relations between people” and the transitional government…

Secretary of State Hillary Rodham Clinton met with House Speaker John A. Boehner (R-Ohio) on Monday and expressed her concern about proposed reductions for the State Department and aid programs. Clinton said she hoped that as Congress considers “the national security and economic consequences of these cuts, they will chart a different course.”

The United States must promote stability in countries such as Egypt or “we will pay a higher price later in crises that are allowed to simmer and boil over into conflicts,” Clinton said.