Egypt To Receive $500 mln Of Qatari Deposit Before Feast Holiday

Finance Minister Momtaz Al Saeed asserted that the aids of the Arab countries, KSA, Qatar, UAE and Kuwait, will help the economy. Egypt is awaiting the first disbursement of Qatari deposit, $ 500 million out of $2 billion that Qatar pledged to deposit in the Central Bank of Egypt, before Eid El Fater holiday.

This came during a meeting yesterday with the American ambassador to Cairo Anne Patterson. The meeting tackled a number of files such as the extra American aids to Egypt, besides discussing the government’s effort to restore economic stability and the file of international aids; especially International Monetary Fund (IMF).

The American ambassador informed the minister that a delegation of US Department of State will arrive in Egypt at the end of August to discuss the latest developments on the political and economic arenas, as well the ways of providing funds to Egypt during the new cabinet and the political stability at the current time.

The minister also discussed the economic states, in addition to the obstacles and challenges that the Egyptian economic faces. Moreover, he discussed the ways of getting aids from the countries and the international institutions, such as America.

Al Saeed mentioned that the American ambassador showed her initial consent on a bundle of aids that Egypt demands, as its implementation mechanism will be discussed during the visit of US delegation.

She also explained that the current states became suitable for resuming negotiation with IMF, after the political stability.