Last Update 15:4
Monday, 11 December 2017

Egypt pays $4 billion dollars of debt to African Export-Import Bank

Ahram Online , Tuesday 5 Dec 2017
The Egyptian Central Bank offices in Cairo, Egypt (AP)
The Egyptian Central Bank offices in Cairo, Egypt (AP)
Share/Bookmark
Views: 1324
Share/Bookmark
Views: 1324

Egypt has repaid a total of $4 billion of debt to the African Export-Import Bank, the country's central bank has announced.

Egypt's state-run news agency MENA reported on Monday that the central bank recently paid back $2 billion to the African Export-Import Bank out of a $3.2 billion short-term loan.

The central bank will repay the remaining $1.2 billion by the end of December, the central bank's Assistant Sub-Governor for the markets sector, Ramy Ahmed Adel Abol Naga, was quoted by MENA as saying.

On Tuesday, Governor of the Egyptian Central Bank Tarek Amer told the Egyptian financial newspaper El-Borsa that the bank had also paid back $2 billion under a repurchase agreement, reducing the total debt to to the bank to $5.2 billion.

Egypt’s foreign reserves climbed to $36.723 billion at the end of November from $36.703 billion at the end of October, the central bank said on Monday.
 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
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.
Latest

© 2010 Ahram Online.