Egypt To Receive Gulf Deposits In Two Weeks: Minister

Egypt will receive the pledged deposits from the Gulf in the coming two weeks, the minister of investment, Ashraf Salman, announced on Monday.

Gulf countries have pledged at least $3 billion in deposits to Egypt’s central bank as part of a total of $12.5 billion in aid during an economic conference held last month in Sharm El-Sheikh.

Egypt’s net international reserves stood at $15.5 billion at the end of February.

Source: Ahram Online