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Egypt receives $3 bln Qatari deposit at 3.5% : official Funds will be channeled into Egyptian treasury bonds with lower interest than 5% previously requested by Gulf nation
Egypt received a $3 billion deposit from Qatar on Thursday at 3.5 percent interest, a central bank official said on Sunday. The funds will remain with the central bank until Egypt's Ministry of Finance issues bonds to Qatar and the funds are converted, said the official, who asked not to be named. Qatar had earlier asked for 5 percent interest on the funds, an Egyptian official involved in the talks said in late April. Qatar had pledged the funds in mid-April. http://english.ahram.org.eg/News/71246.aspx