US pledges $450m to Egypt

The US has pledged $450 million to Egypt in ordering to help improve the fragile Egyptian economy.

The US Secretary of State, John Kerry, who is currently visiting Egypt, announced the assistance whilst stressing the need for "more hard work".

Speaking to the Egpytian president Mr Morsi, Kerry urged him to ensure that April's elections for free, fair and transparent. The elections are being boycotted by the main opposition group due to on-going mass pro-democracy protests.

Speaking after the second day of talks, Kerry said:

"It is clear that more hard work and compromise will be required to restore unity, political stability and economic health to Egypt,"

"In all my meetings, I conveyed a simple but serious message: the brave Egyptians who stood vigil in Tahrir Square did not risk their lives to see that opportunity for a brighter future squandered."

"The Egyptian people must come together to address their economic challenge,"

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