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.
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