LIBYA: ‘ Libya’s Central Bank Denies Rumours of Sparing Egypt Repayment of $2 Billion Deposit ‘

#AceFinanceNews – LIBYA (Tripoli) – September 06 – A Statement by Libya’s Central Bank denies sparing Egypt repayment of a $2 Billion deposit placed at Central Bank of Egypt.



Libya’s Central Bank denied on Saturday sparing Egypt the repayment of a US$2 billion deposit placed at the Central Bank of Egypt.

A statement by the Libyan bank denied "rumors" circulated across social media networks claiming that the Libyan parliament decided to spare Egypt the repayment of the deposit.

Libya’s central bank chief had earlier told the Libyan News Agency that the deposit is repayable within five years.

Egypt relied on loans from several Arab states to embolden an economy weakened by the political instability since the ouster of former president Mohamed Morsy.

The conditions of Egyptians in Libya over the past months have been worsening with Egyptian drivers occasionally held hostage and thousands deported to escape infighting in Libya.

Egypt has been recently accused of staging air strikes in association with the United Arab Emirates targeting Islamist militants strongholds in Libya, though the government has officially denied it.

Source: (Edited translation from DPA)

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