Aprominent source at the Egyptian Cabinet said Egypt is committed to paying off the Qatari deposit which is estimated at nearly $2.5 billion, according to Al-Masry Al-Youm newspaper.
The source added that Egypt will not submit a request to extend the repayment period.
The central bank governor confirmed that Egypt’s foreign cash reserve will not be impacted, the source noted, adding that Doha converted the deposit from a sovereign into commercial debt in order to enforce Egypt to repay the deposit on time.