Kippreport gets insights from Mike Belk, CEO and president of Daimler Middle East and LevantMarch 26, 2015 12:02
Qatar says no more aid to Egypt for now
March 11, 2013 11:24 by Reuters
Qatar does not expect to give further financial aid to Egypt in the immediate term, Qatari Finance Minister Youssef Kamal said on Monday.
“We already announced $5 billion,” Kamal told Reuters, when asked how much aid Qatar had provided Egypt to date.
Asked whether Qatar expected to provide more, he replied: “Not yet.” He did not elaborate.
Qatar has been a key source of foreign aid to Egypt since its 2011 revolution through soft loans and deposits in Cairo’s central bank.
With Egypt’s foreign reserves falling to critically low levels and a hoped-for $4.8 billion loan from the International Monetary Fund delayed by political unrest, there has been speculation that Cairo could turn to Qatar for yet more aid.