23bn to be added to cbes cash reserves next month
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

$2.3bn to be added to CBE's cash reserves next month

Arab Today, arab today

Arab Today, arab today $2.3bn to be added to CBE's cash reserves next month

CBE's
Cairo - MENA

Egyptian Economist Mohamed Deshnawy expected $2.3 billion would be added to the cash reserves of the Central Bank of Egypt (CBE) in December.

Deshnawy told MENA that the added cash reserves include $ 1 billion from the World Bank as a down payment, $ 500 million from the African Development Bank and $ 500 million as proceeds from selling land of the "homeland house" project.

He said that the Egyptian government managed to reach agreements with the World Bank and the African Development Bank for two loans worth $4.5 billion ($3 billion from the World Bank and $1.5 billion from the African Bank) in batches over the last three years.

These agreements, along with the "homeland house" proceeds, will have a positive impact on Egypt's foreign exchange resources, he added.

They will support the country's cash reserves, currently amounting to $16.4 billion, reduce pressure on the Egyptian pound, and help the CBE under its new leadership in the face of inflation, Deshnawy said.

Egypt has no international financial obligations during the remainder of 2015, which is a positive matter that would improve the CBE's cash reserves fundamentally, he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

23bn to be added to cbes cash reserves next month 23bn to be added to cbes cash reserves next month

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

23bn to be added to cbes cash reserves next month 23bn to be added to cbes cash reserves next month

 



GMT 00:30 2017 Wednesday ,15 November

Aussies’ Ashes warning

GMT 07:49 2018 Monday ,01 January

OIC condemns terrorist attack in Jeddah

GMT 15:53 2017 Monday ,24 April

Heads US athletics dominance, De Grasse stars

GMT 21:37 2017 Wednesday ,20 September

Carbon 'budget' may be bigger than thought

GMT 15:15 2017 Thursday ,26 January

Unfair to compare me with Priyanka

GMT 18:36 2017 Thursday ,13 April

Doha Municipality Celebrates GCC Food Day

GMT 01:38 2017 Thursday ,16 November

Israel destroys home of Palestinian

GMT 13:17 2017 Sunday ,12 March

Iran unveils advanced indigenous armored tank

GMT 08:45 2017 Thursday ,02 February

Trump White House puts Iran 'on notice'

GMT 06:09 2017 Wednesday ,04 October

Hermes praises Egypt's ability to pay external debts

GMT 02:14 2014 Thursday ,23 January

SpaHub shares the 5 best winter spa treatments
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday