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...
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