Qatar has announced it is doubling its aid to Egypt with a new injection of cash, the equivalent of 1.5 billion euros.
The move comes as Cairo faces a currency crisis after the recent political upheaval.
The lifeline eases pressure on President Mursi as he negotiates a multi billion dollar loan with the International Monetary Fund.
Although the IMF is willing to help it wants to see reforms including tax hikes and cuts in subsidies before handing it over.
Austerity measures which are not widely popular and could hurt Mursi’s Muslim Brotherhood at the polls.
Egypt’s main source of hard currency is tourism but the ousting of President Mubarak and further political turmoil has undermined the industry.
Qatar’s intervention is seen as a bid to increase its influence in the region.
Copyright © 2014 euronewsMore about:
- 1French ISIL militants urge fellow Muslims to launch attacks back home
- 2Obama to announce reforms to give rights to millions of illegal immigrants
- 3Citizen gain – which EU states are granting the most new passports?
- 4Duchess of Alba, Spain’s richest woman, dies aged 88
- 5Somaliland migrants dying for a life in Europe
- 1Back to school for Romania’s new First Lady
- 2Surprise victor Klaus Iohannis wins in Romanian presidential election
- 3European e-revolution people rise up
- 4Greece: Tomb and skeleton discovered at ancient Amphipolis – Pictures
- 5Romanian Prime Minister concedes defeat to Iohannis in presidential election
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Sweden becomes first EU country to recognise the Palestinian State | euronews, world news
- 3Italy swamped by flash floods | euronews, world news
- 4Back to School for Romania’s new First Lady | euronews, world news
- 5Turkish president Erdogan unveils his new palace of a thousand rooms | euronews, world news
- 6India PM Modi appoints Yoga minister | euronews, world news
- 7Vladimir Putin most powerful man in the world – Forbes | euronews, world news
- 8[Live] Rosetta’s Philae lands on comet 67P and enters the history books | euronews, world news
- 9European e-revolution people rise up | euronews, world news
- 10International tv news | euronews: European and International tv news bulletin
- 11Where is the best place in Europe for women? | euronews, world news
- 12Revealed: Europe’s capital cities where it’s hardest to be a foreigner | euronews, world news
- 13Putin plans to leave G20 talks early amid Ukraine pressure | euronews, world news
- 14Nadia Comaneci: gymnast of perfection and defector | euronews, the global conversation
- 15US says ISIL makes $1 million-a-day selling oil – even to enemies | euronews, world news
- 16Edgars Rinkevics: “I am gay. Good luck all of you.” | euronews, world news
- 17International news | euronews, latest international news
- 18International breaking news | euronews online world breaking news in video
- 19Philippe Starck: ‘Words like longevity and legacy have become almost avant-garde’ | euronews, the global conversation
- 20Transcript of hanged Iranian woman’s final message released | euronews, world news
Wires > News
- 04:02 CET Jordan arrests deputy head of Muslim Brotherhood for criticising…
- 03:57 CET Egypt’s Sisi says pardon for Al Jazeera journalists ‘being…
- 01:53 CET Molotov cocktails, clashes as thousands of Mexicans protest…
- 00:33 CET Last British governor of Hong Kong says confront China on rights
- 00:20 CET U.S. releases five Guantanamo detainees to Georgia, Slovakia
- 23:29 CET Alumnus shot dead after wounding three at Florida State University
- 23:14 CET Exclusive – U.S. increasing non-lethal military aid to Ukraine
- 22:54 CET Australia fears Islamist radicals joining forces with biker gangs