Last Update 20:26
Wednesday, 23 October 2019

Egypt hopes to receive $2 bln deposit from UAE before May end: CBE governor

Ahram Online , Thursday 5 May 2016
Central Bank of Egypt's headquarters is seen in downtown Cairo, Egypt March 8, 2016 (Reuters)
Views: 1557
Views: 1557

Egypt is negotiating with the United Arab Emirates to receive $2 billion in a Central Bank of Egypt (CBE) deposit before the end of May, the CBE's governor, Tarek Amer, told official news agency MENA, on Thursday.

In April, the United Arab Emirates pledged $4 billion to Egypt, half as a deposit in the central bank and the other half in investments in developmental projects, the Emirati news agency WAM reported at the time.

Amer also told MENA that Egypt had not received any central bank deposit since he began his tenure in November.

Egypt's foreign currency reserves stood at $17.0108 at the end of April, up from $16.561 billion the previous month.


Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.