"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt did not request extending maturity of CBE $2bn Kuwaiti deposit: senior government official
UAE agreed to extend the maturity of its $2bn deposit with CBE until July 2023
Published in Daily News Egypt on 09 - 12 - 2017

A senior government official denied that Egypt has requested extending the maturity of a $2bn Kuwaiti deposit at the Central Bank of Egypt (CBE) that was due to mature in July 2018.
Egypt's CBE received the $2bn deposit from Kuwait in September 2013, as part of $12bn received in aid promised to Egypt by Saudi Arabia, Kuwait, and the United Arab Emirates (UAE) following the 30 June uprising.
The official affirmed that the UAE agreed to extend the maturity date of its $2bn deposit with the CBE until July 2023.
The UAE had deposited the sum in July 2013 and it was also due to mature in July 2018.
The CBE has received another deposit, worth $1bn, from the UAE, due to mature in August 2022.
According to the official, Egypt received an initial approval from Saudi Arabia to extend maturity on its $2bn deposit with the CBE, noting that the two countries are currently in talks on the terms of the deposit.
In July 2013, Saudi Arabia deposited $2bn with the CBE that was due to mature in July 2018. Saudi Arabia deposited an additional $2bn in September 2016.
Minister of Finance Amr Al-Garhi disclosed last week that Egypt would repay $14-15bn of its debt in 2018. However, a government official denied that statement, stressing that Egypt would actually repay much less than the mentioned sum in 2018.
The source said that Egypt hopes to reach an agreement with Saudi Arabia to extend the maturity of its deposit, and hopes to do the same with other international institutions that provided the country with several loans.
According to financial reports obtained by Daily News Egypt, Egypt is set to repay about $12.9bn in 2018, including foreign debts and installments of loans obtained earlier.
Moreover, Egypt is expected to repay $9.4bn in 2019, $7.1bn in 2020, $4.3bn in 2021, $2.2bn in 2022, $4.1bn in 2023, and $1.7bn in 2024, not to mention the foreign bonds recently offered by Egypt.


Clic here to read the story from its source.