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Tuesday, 24 September 2013

Egypt returns $2bn aid to Qatar...

Egyptian flag
 Qatar announced on Thursday that Cairo has returned a $2-billion bank deposit which Doha wanted to transform into bonds, in a sign of strained ties since the ouster of Egypt's Islamist president Mohamed Morsi.
A finance ministry spokesperson said Doha "respects the decision of the Egyptian government to return a two-billion-dollar deposit to Qatar," following the failure of two weeks of negotiations on converting the funds into bonds.
The deposit was part of an $8-billion Qatari aid package to Egypt after the 2011 revolution which toppled its president Hosni Mubarak.
Doha-Cairo ties have been unsettled since the Egyptian army's 3 July ouster of Morsi, who had the strong support of Qatar, following a wave of popular street protests.

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