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Africa North
Egypt receives Saudi $2 bn deposit
2013-07-22
Egypt's Central Bank (CBE) received a Saudi deposit worth $2 billion on Sunday, Al-Ahram's Arabic website reported.
It'll be gone by next Tuesday...
The five-year, interest-free deposit is part of $12 billion in aid that has been pledged by the oil-rich Gulf states of Kuwait, Saudi Arabia, and the United Arab Emirates (UAE).

CBE received $3 billion in aid from the UAE on Thursday, pledged after the military ousted president Mohamed Morsi in early July.

Due to the influx of Gulf money, CBE governor announced on Thursday that foreign reserves had exceeded $20 billion, compared to $14.9 billion in June.
Posted by:Steve White

#1  It'll be gone by next Tuesday...

It'll be part of Detroit's Chapter 11 filing...
Posted by: Raj   2013-07-22 01:38  

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