Arab Today, arab today 23bn to be added to cbes cash reserves next month
Last Updated : GMT 21:46:51
Arab Today, arab today
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*

Arab Today, arab today 23bn to be added to cbes cash reserves next month Arab Today, arab today 23bn to be added to cbes cash reserves next month

 



Arab Today, arab today

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*

Arab Today, arab today 23bn to be added to cbes cash reserves next month Arab Today, arab today 23bn to be added to cbes cash reserves next month

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday