Egypt’s Saudi $2 billion deposit showed in Sept reserves: PM

Egypt received a $2 billion central bank deposit from Saudi Arabia during September, the country’s prime minister told Reuters on Thursday, and has therefore been accounted for in that month’s foreign reserves total, which stood at $19.6 billion.

The deposit was also made before a Saudi decision in October to suspend petroleum aid.

Egypt’s central bank said that it had received the $2 billion deposit late Wednesday that could bring it closer to clinching a $12 billion International Monetary Fund (IMF) lending programme but had not clarified when the money was received.

Source: Reuters