Egypt’s net international reserves rose to reach more than $20 billion due to the oil-rich Gulf States’ recently sent aids, Al-Ahram reported, citing the Central Bank of Egypt’s governor Hisham Ramez.
Egypt’s net international reserves dropped in June to $14.9 billion, CBE announced.
Foreign reserves had risen in April for the first time since October 2012 after hitting a record low of $13.4 billion, and they continued their upturn in May during which $16.04 billion was recorded due to injections of foreign aid from Turkey, Qatar and Libya.
Ramez told Al-Ahram that Saudi Arabia would transfer $2 billion to Egypt’s central bank in the coming few days as a free-interest deposit.
The date to receive the Kuwaiti aid is yet to be set, he added.
Earlier on Thursday, Reuters reported that the Central Bank of Egypt received $3 billion in aid from the United Arab Emirates (UAE), which was pledged after the ousting of President Mohamed Morsi.
The UAE said last week that it would provide Egypt with $1 billion as a grant and a $2 billion interest-free loan. Saudi Arabia pledged $5 billion and Kuwait $4 billion.Jewish Press News Briefs
About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.
If you don't see your comment after publishing it, refresh the page.
Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.
If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.