"Egypt is pushed to seek debt relief"

(Dow Jones) - Egypt's balance of payments deficit could swell to almost $3 billion as the first quarter ends, and the country could be pushed to seek further debt-relief options, analysts for Roubini Global Economics said Thursday. "We believe that Egypt would turn first to bilateral sources of capital....to the European Union, to the U.S.," said senior research analyst Rachel Ziemba on a teleconference with reporters. She didn't completely rule out Egypt turning to the IMF for help with its debt issues.....

"Egypt has been facing more and more difficulty in trying to sell its Treasury bills. The yields have been rising," says research analyst Ayah El Said. "We've seen at the end of February Egypt seeking some debt relief from EU members. Nothing has materialized in this regard, but we expect Egypt to start seeking further debt relief options."...