Google+ Followers

Thursday, 8 September 2016

Egypt eyes $2-3 bln deposit from Saudi Arabia to help seal IMF deal -fin min | Reuters

Egypt eyes $2-3 bln deposit from Saudi Arabia to help seal IMF deal -fin min | Reuters:

"Egypt is in advanced talks with Saudi Arabia to secure a new deposit worth $2-3 billion as part of about $6 billion in bilateral financing required to seal an IMF loan, the finance minister said in comments published by Al Borsa newspaper.

Borsa quoted Amr El-Garhy as saying that negotiations with Saudi Arabia were due to be completed in the next few weeks.

It was not clear if Garhy was expecting Egypt to agree on the disbursement of a $2 billion deposit agreed with Saudi Arabia in April or if the country was seeking new funding."



'via Blog this'