Qatar set to pump $2.5bn into Egypt over the next three months - Daily News Egypt

Morsy meets with Qatari Prime Minister and
Foreign Minister Hamad bin Jassim Al-Thani
in Cairo on 8 January
AFP PHOTO / KHALED DESOUKI

The government is currently discussing the details of a $2.5bn aid package from Qatar, by way of special IPO agreements made in dollars.

This comes a week after Qatar’s announcement that it would provide Egypt with an additional $2bn in addition to an already agreed upon $500m package.

Unfortunately, Egypt’s debt and the need to pay it off in foreign currency means that despite these deposits, Egypt’s foreign currency reserves have been unable to rise.
Qatar set to pump $2.5bn into Egypt over the next three months - Daily News Egypt: "