• 22:43
  • Wednesday ,01 May 2013
العربية

Qatar PM arrives in Cairo to meet President Morsi

By-Ahram

Home News

00:05

Wednesday ,01 May 2013

Qatar PM arrives in Cairo to meet President Morsi

 Qatar Prime Minister Sheikh Hamad Bin Jassim, also minister of foreign affairs, has arrived in Cairo early Tuesday from New York.

PM Jassim in only planned to stay a few hours, during which he will meet with Egyptian President Mohamed Morsi.
 
Receiving the Qatari PM at the airport were Egyptian Aviation Minister Wael El-Maadawi as well as Qatar's ambassador in Cairo.
 
Sources revealed on Monday that Qatar has requested an interest rate of 5 percent on the $3 billion worth of bonds it plans to buy from Egypt. No deal has been reached yet.
 
Qatar has already given Egypt $5 billion, including a $1 billion grant and $4 billion worth of deposits at the Central Bank of Egypt since the country's 2011 uprising.
 
A drop in foreign currency reserves and a problematic balance of payment deficit has prompted Egypt to seek help from other countries, including the Gulf states, Libya, Turkey and Russia.
 
Egypt is also seeking a $4.8 billion loan from the International Monetary Fund, but a deal has been lingering ever since negotiations restarted in March 2013.