Egyptian Minister of Supply: No Credit Line Established with India Yet

The Egyptian Minister of Supply, Ali Moselhi, stated on Monday that "a credit line has not been opened with India yet, but discussions are ongoing regarding the payment of imports using currencies other than the dollar." He mentioned in a statement to Reuters that "similar discussions are currently taking place with Russia and China as well." He added, "Nothing has been implemented in this regard, but discussions are underway to facilitate transactions in local currencies for each of the countries, whether in India, Egypt, Russia, or China." Reports have surfaced regarding an upcoming visit by Indian Prime Minister Narendra Modi to Egypt this month, as part of efforts for the two countries to become strategic partners.