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.

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