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Sunday, 8 May 2016

Egypt not in talks with Qatar to delay debt repayment, Amer says

The central bank isn’t looking to delay repayment of a USD 1 bn deposit from Qatar, Governor Tarek Amer said. “We are ready to fulfill our debt obligations on time to any entity, whether it is Qatar or the Paris Club,” he said in comments to MENA that were covered by domestic media including Al Shorouk and Al Masry Al Youm. Amer said Egypt is due to make USD 1.8 bn in repayments in July, USD 1 bn of which is to Qatar and the remainder to the Paris Club. According to Al Borsa, Amer also denied that there are any delays in receiving the UAE’s deposit, expecting it to arrive this month. He also said he senses a “strong desire” from Kuwait to continue its support to Egypt, but did not provide specifics.

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