Saudi Arabia deposits $5 billion in Egypt's central bank - SPA | Reuters
Saudi Arabia has deposited $5 billion in Egypt's central bank, the Saudi state news agency reported on Wednesday, as the Egyptian economy faces new economic pressures as a result of the war in Ukraine.
On March 21 Egypt devalued its currency by around 14% after investors had pulled billions of dollars out of Egyptian treasury markets.
Last week the government announced it was in talks with the International Monetary Fund for potential funds and technical support to hedge against the effects of the Russia-Ukraine crisis on its economy. read more
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