No New Aid for Arab Spring: Harper

At the G8 summit, the prime minister says international institutions should be dispensing aid, not deficit-saddled nations.

Canada won't be sending any more financial aid to Tunisia or Egypt, Prime Minister Stephen Harper said at the G8 summit in Deauville, France. The PM said he's committed to letting international financial institutions distribute money to the two countries instead. Canada upped its funding to the World Bank, the International Monetary Fund, and the African Development Bank by $4.6 billion two years ago, while the other G8 nations are now set to follow suit in the wake of the Arab uprisings. All told, the eight countries want the three banks to distribute $20 billion, contingent on democratic reforms, over the next two years to help stimulate economic development in Tunisia and Egypt.