EGP nudges higher vs. USD in early Thursday trading    Global electricity demand to surge through 2026 – IEA    Japan's c. bank holds key interest rate    Egypt, US FMs discuss Gaza crisis, Nile water security    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Following Morsi's ouster, Qatar's support to Egypt in question
Published in Daily News Egypt on 14 - 07 - 2013


By Nada Badawi and Doaa Farid
Qatar's political and financial support for Egypt since the 2011 revolution has cause mixed reactions among the Egyptian people, as well as tensions among Gulf states. Post-Morsi, the economic relationship between Qatar and Egypt is uncertain.
Sherif Sami, a member of the General Authority of Investments, stated that competition between gulf countries, in terms of regional influence and international investments, is always present.
"Bilateral relations between countries are normally determined by interests, and gulf countries like Saudi Arabia, Kuwait and the United Arab Emirates (UAE) are now supporting Egypt as well, so Qatar won't stand alone," Sami said.
A few days after the ouster of president Mohamed Morsi following nationwide protests, Saudi Arabia and the UAE pledged a total of $8bn in aid. A day after the lenders' aid announcements, Kuwait also pledged an aid package of $4bn to support Egypt's troubled economy.
The newly announced Saudi aid will be divided to $1bn cash, $2bn for petroleum products and another $2bn deposit. The UAE will contribute a $1bn grant and $2bn interest-free deposit with the central bank.
Qatar, on the other hand, has granted Egypt $2.5bn in loan last January, and extended a further $3bn in May by agreeing to buy Egyptian bonds at 3.5% interest.
"Despite the removal of Morsi, I still expect the Egyptian-Qatari bilateral relations to strengthen further," Sami said.
Hana Ebeid, researcher at Al-Ahram Centre for Political and Strategic Studies, however, disagrees.
"The fact that Morsi was in power was enough reason for Qatar to support Egypt in aid and politics," she said, noting Qatar's relationship with the Muslim Brotherhood.
Post-ouster, however, Ebeid expects that the current bilateral relations between the two countries will weaken.
"The situation isn't clear yet, due to the political transition in Egypt, and the change in political leadership in Qatar," she explained, adding that the United States itself hasn't "been clear about its stance towards political changes in Egypt."
Since Morsi's election in 2012, the Egyptian public has been very critical of Qatari aid, worrying that support of Egypt's Islamist government was an attempt by the small gulf state to gain influence in the region.


Clic here to read the story from its source.