5 September 2013

Egypt Prepares to Repay Qatari Loan in Days If Necessary

Egypt is prepared to repay within days $2 billion (LE1.28 billion) that Qatar deposited with Central Bank in Egypt (CBE) in May if talks to convert the funds into bonds do not succeed, CBE official said on Wednesday 4/9/2013.

"This supposedly should be moved to a three year bond, and still they have not finished it," said the official, who asked not to be named. "If it's not done we will repay it. We are ready for this." He said the talks will continue for another week.

Copyright © 2013 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.