$2 bn of Foreign Reserve after Arrival of kuwaiti DepositSource: www.export-egypt.com 9/25/2013, Location: Africa |
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Governor of the Central Bank of Egypt (CBE) Hesham Ramez said on 24/9/2013 that the bank received the Kuwaiti $ 2 billion deposit, which brought up the foreign monetary reserve to some $ 19 billion.
Ramez disclosed that the Kuwaiti deposit's conditions are the best for Egypt as the interest rate of the five-year deposit hits 0.25 percent, which is incomparable to the interest rate proposed by the Qatari government to its deposit in Egypt and which rated 4.25 percent for only one year maturity. |
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