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.
- 1‘Human error responsible’ for deadly Bad Aibling train crash – sources
- 2Two commuter trains collide head-on in Germany
- 3Leopard enters Indian school, mauls six people
- 4Refugees in Hungary offered classes to speed integration
- 5New migrant tragedy claims 27 lives as Greece grapples with refugee crisis
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Madrid to appeal Catalan road to independence from Spain
- 4Hope vs harsh reality: challenges to global education goals in the 21st century
- 5Partnering to grow Europe
- 6Extras : euronews : the latest international news as video on demand
- 7Turkey: Explosion hits Istanbul’s main tourist district
- 8Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 9Jorge Lorenzo clinches his third MotoGP title in Valencia
- 10Macedonian Postcards: The Mavrovo National Park
- 11Moldova: protesters storm Parliament
- 12Paris: “I would rather see my brother in prison than in a cemetery”
- 13Special Reports : euronews : the latest international news as video on demand
- 14Benzema questioned in French sex tape case
- 15Merroussis clinches the 33rd Athens Authentic Marathon
- 16latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 17Norway sends Syrian refugees back to Russia
- 18Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 19Business news and finance news | euronews: international economic and finance news
- 20International breaking news | euronews online world breaking news in video
Wires > News
- 06:50 CET Trump, Sanders ride U.S. anti-establishment tide to New Hampshire…
- 06:25 CET Exclusive – U.S., India consider joint patrols in South China Sea…
- 05:22 CET Kidnapped journalist found dead in central Mexico
- 05:04 CET Libya must lead anti-Islamic State effort, Egypt’s foreign…
- 03:41 CET Ten dead, more than 80 injured in Bavaria train crash
- 02:30 CET Magnitude 6.3 quake hits central Chile, no major damage seen
- 02:12 CET Report card on aboriginal Australians paints bleak picture
- 01:35 CET U.N. fears for hundreds of thousands if Syria troops encircle…