Qatar supports Egypt financially

(IraqiNews.com) Qatar decided to deposit $ 2 billion in the Egyptian Central Bank in support of Egypt’s economy which suffers considerable difficulties.

Egyptian sources stated that “The decision comes after concluding a meeting in Cairo between Prince of Qatar, Sheikh Hamad bin Khalifa Al Thani, and the Egyptian President, Mohamed Morsi.”

The sources added “The Qatari support for Egyptian economy was decided to be in form of a deposit of $ 2 billion in Central Bank of Egypt which depleted its foreign currency since the resignation of the former President, Hussni Mubarak, in February 2011.”

The Egyptian reserves of hard currency is currently $ 11, 4 billion compared to $ 36 billion a year and a half ago.

Al Thani discussed with Morsi the latest updates in the region and the means of developing the bilateral relations between both countries.