ICEC

Egypt returns to Qatar $7 bln, pays pack $250 mln debt to Libya

Egypt has returned to Qatar $7 billion dues the Gulf state deposited to help prop up the Egyptian central bank’s hard currency reserves after the 2011 uprising, the central bank announced Sunday.

This comes after the North African country paid back to Qatar the last instalment worth $1.02 billion last July.

The central bank also added that the country had also paid back an installment of $250 million out of $2 billion due to Libya.

Egypt has received total deposits worth $30 billion during the period from 2011 and the first half of 2016, including $8 billion from Saudi Arabia, the central bank said in a report send to the parliament on Sunday.

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