Egyptian Minister of Supply and Internal Trade Ali Moselhy revealed that Egypt has not opened any credit line with India yet; however, discussions are underway to start using currencies other than the US dollar in payments, Reuters reported on June 12th.

"Nothing of the sort has been implemented but there are discussions so that we can trade in local currencies of countries like India, Russia or China," the minister told Reuters.

On June 12th Moselhy, Bloomberg reported that India would provide Egypt with a credit line with an unidentified value to assist the North African country in coping with the current economic crisis.

It is worth noting that credit lines are usually used to import basic commodities, including food, as well as easing economic pressures.

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