EGYPT/QATAR

 

Qatar Steps In To Support Egypt’s Forex Reserves

Qatar announced on 11 August that it would place a $2bn deposit with the Central Bank of Egypt (CBE) to boost the latter’s dwindling foreign exchange reserves. Qatar’s decision to support Egypt was unveiled last week during a visit to Cairo by the Amir of Qatar Shaikh Hamad bin Khalifa Al Thani to congratulate Egypt’s new president Muhammad Mursi on becoming head of state. Confirming Qatar’s...