This article talks about Qatar offering economic lifeline to Egypt by buying out bonds worth 3 Billion Dollars. Egypt is in a state of turmoil. Inflation is on the high especially food inflation. All caused by shortages in fuel and a currency crisis.This additional $3Billion comes after a promise of $18 billion investment in Egypt by 2018 from Qatar. Egypt have also taken a loan of $ 4.8 Billion from the IMF.
The Qatari Prime Minister has also said that it is willing to supply natural gas when needed . It is also believed that the Egyptian pound has depreciated sharply and the country only has enough money to pay for three months of imports.
http://www.bbc.co.uk/news/business-22093320
The Qatari Prime Minister has also said that it is willing to supply natural gas when needed . It is also believed that the Egyptian pound has depreciated sharply and the country only has enough money to pay for three months of imports.
http://www.bbc.co.uk/news/business-22093320
Egypt seems to be in a similar situation like Cyprus. At least other countries come help in their time of need. Whether or not Egypt will be able to pay back Qatar, will be difficult to see in their current economic position.
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