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Thursday, 13 October 2016

UPDATE 1-Egypt's $2 bln deposit from Saudi Arabia showed in September reserves | Reuters

UPDATE 1-Egypt's $2 bln deposit from Saudi Arabia showed in September reserves | Reuters:

"Egypt received a $2 billion central bank deposit from Saudi Arabia in September, the prime minister told Reuters on Thursday, confirming it had been accounted for in the previous month's foreign reserves total, which stood at $19.6 billion.

The timing of the deposit makes clear it was received before a suspension of petroleum aid by Saudi Arabia, which began on Oct. 1 and had raised questions over the fate of Saudi aid destined for Egypt.

Egypt's central bank said late on Wednesday that it had received a $2 billion deposit that could bring it closer to clinching a $12 billion IMF lending programme aimed at plugging the country's deficit and balancing its currency markets but had not clarified when the money was received."



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