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English news

26-May-2016

CBE: Egypt is set to receive USD2bn deposits from UAE before May-end

A source at the Central Bank of Egypt informed reporters of the deal, noting that the CBE's current priorities are to increase FCY sources, meet importers' requests, and repay Paris Club debt worth USD700mn due in July as well as instalments of the USD1bn Qatar bond. The CBE did not request to postpone instalment payments of the Qatari bond, or to renew it, and is committed to meeting its payment obligations on time, according to the source. Meanwhile, the National Bank of Egypt and Bank Misr are considering funding plans with international institutions, including loans and bonds, to enhance FCY liquidity, he added. (Al-Masry Al-Youm)

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