FINANCIAL NEWS

Egypt repays USD1bn to Qatar amid tensions

03 Jul 2016

(MENAFN) Egypt has paid USD1bn to Qatar, marking the last tranche of debts to the Gulf State, among tensions between the two Arab nations.

Meanwhile, Qatar offered USD7bn worth of grants and deposits to Egypt among the year Mursi had in power.

Furthermore, Egypt’s foreign reserves grew by USD510mn to hit USD17.5bn in May, whereas the reserves hit USD36.5bn in 2010.

In addition, UAE, KSA and Kuwait have pumped billions of dollars to increase the Egyptian economy.

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