EGYPT: Central bank has received a deposit cool $1-billion to alleviate their dollar crisis and pay their IMF loan Bloomberg and Emirati news agency WAM reported on Monday – @AceFinanceNews

#AceFinanceNews – Aug.24: UAE offers $1B to Egypt’s Central Bank

UAE has offered a deposit worth $1 billion to the Central Bank of Egypt (CBE) lasting for six years, Emirati news agency WAM reported on Monday, a move that aims at alleviating Egypt’s dollar crisis. 

U.A.E. Deposits $1 Billion in Egypt to Shore Up IMF Loan Deal

The United Arab Emirates agreed to deposit $1 billion with Egypts central bank to help the North African nation meet the requirements for a $12 billion loan deal with the International Monetary Fund. 

Egypt's President Sisi and the UAE's Mohammed bin Zayed Al Nahyan during the latter's visit to Cairo in April 2016. (File photo)

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