Egypt to receive Gulf Deposits in Two Weeks

Egypt will receive the pledged deposits from the Gulf in the coming two weeks, the country’s minister of investment, Ashraf Salman, announced Monday.

Gulf countries have pledged at least $3 billion in deposits to Egypt’s central bank as part of a total of $12.5 billion in aid during an economic conference held last month in Sharm El-Sheikh.

Egypt’s net international reserves stood at $15.5 billion at the end of February.

Source: Ahram Online