Qatar agrees bond conversion



Issue 954 - 21 Sep 2013 | 1 minute read

Qatar has agreed to convert a $2bn deposit with Egypt’s central bank into bonds, according to Central Bank of Egypt governor Hisham Ramez. The conversion was recently reported to be on the rocks when a central bank source was widely quoted as saying Egypt was prepared to repay the money within days if negotiations failed. But on 9 September, Egyptian newspapers quoted Ramez as saying it would go ahead, though it was not clear on what terms.

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