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Egypt receives $ 6 billion and deposits of three Gulf states have an interest rate of 2.5%
4/23/15
Central Bank Governor Hisham Ramez said that his country had received $ 6 billion from Saudi Arabia, UAE and Kuwait.
Ramiz added in remarks reported by the Egyptian newspaper on the seventh day (especially) on Wednesday evening, said his country got a billion dollars a deposit from each country, and for that deposits ranging in duration from 3 to 5 years and an interest rate of 2.5%.
Such deposits to support foreign exchange reserves at the Central Bank, which stood at the end of last month reached 15.29 billion dollars.
Faces foreign exchange reserves in Egypt significant challenges with the decline in the flow of hard currency for the country due to political unrest.
It was Egypt's foreign exchange reserves of $ 36 billion before the overthrow of former President Hosni Mubarak in February 2011.
And announced that the three countries that have deposited $ 6 billion the central bank next to the Sultanate of Oman to provide $ 12.5 billion in investments and deposits through the support and development of the Egyptian economy conference (Egypt future) held the middle of last month.
And announced that only Saudi Arabia and the UAE during the conference provided $ 3 billion to Egypt as a deposit at the central bank, including the billion dollars from Saudi Arabia and two billion from the UAE, Kuwait has claimed to provide any deposits.
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