Gulf nations top up Egyptian coffers

Qatar's offer rejected; Kuwait sends USD 2 billion

26 September, 13:35

    (ANSAmed) - CAIRO, SEPTEMBER 26 - Egypt's central bank has received the two-billion-dollar deposit promised by Kuwait, after the seven billion received from Saudi Arabia, the UAE and Kuwait following the July ouster of former President Mohamed Morsi, reported central bank governor Hisham Ramez. Ramez said that foreign currency reserves stood at 19 billion dollars in August, rendering the country's financial position ''stable''. The funds, which came from Gulf states after Morsi's ouster, will be of immense help to the struggling state coffers of Egypt after it decided last week to refuse the two billion dollars offered by Qatar. Relations have grown more strained between the two countries since Morsi was taken out of power, since Qatar is considered to be one of the Muslim Brotherhood's major supporters in Egypt, while other Gulf monarchies have long been hostile to the movement. (ANSAmed).

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