{"id":1053,"date":"2023-06-12T11:01:51","date_gmt":"2023-06-12T09:01:51","guid":{"rendered":"https:\/\/sada.ly\/en\/2023\/06\/12\/the-central-bank-of-egypt-obtains-huge-sums-of-qatari-and-libyan-deposits\/"},"modified":"2023-06-12T11:01:51","modified_gmt":"2023-06-12T09:01:51","slug":"the-central-bank-of-egypt-obtains-huge-sums-of-qatari-and-libyan-deposits","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/the-central-bank-of-egypt-obtains-huge-sums-of-qatari-and-libyan-deposits\/","title":{"rendered":"The Central Bank of Egypt obtains huge sums of Qatari and Libyan deposits"},"content":{"rendered":"\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">The Central Bank of Egypt said on Sunday that it had received huge deposits from Libya and Qatar late last year as Egypt grappled with a foreign currency shortage.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">The Egyptian bank said that the two deposits are one billion dollars from Qatar, and the other amounted to 700 million dollars from Libya.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">In particular, a shortage of US dollars has brought parts of the Egyptian economy to a standstill, forcing Cairo to delay payments for wheat and other necessities for months as it struggles to pay suppliers.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">The deposits raise the levels of foreign exchange reserves of the bank to 34.7 billion dollars, as Qatar has a total of 3 billion dollars in the Central Bank of Egypt and Libya 900 million dollars.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">The shortage of foreign currency is one of Egypt&#8217;s economic problems and it has to deal with huge payments for its foreign borrowing.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">The announcement of new deposits comes as Cairo prepares for a visit to the International Monetary Fund in the first week of July. The International Monetary Fund approved a $3 billion loan to Egypt late last year.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\" dir=\"ltr\">This loan will only serve as a small aid to Egypt, and it is clear that Egypt faces a funding gap of $17 billion over the next four years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Egypt said on Sunday that it had received huge deposits from Libya and Qatar late last year as Egypt grappled with a foreign currency shortage. The Egyptian bank said that the two deposits are one billion dollars from Qatar, and the other amounted to 700 million dollars from Libya. In particular, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"iawp_total_views":0,"_asgm_disable_schema":false,"_asgm_disable_faq":false,"_asgm_disable_howto":false,"_asgm_disable_llms":false,"_asgm_llms_description":"","footnotes":""},"categories":[2],"tags":[484],"class_list":["post-1053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cairocentral-bank-of-egyptlibyalibyan-deposits"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Central Bank of Egypt obtains huge sums of Qatari and Libyan deposits - Sada Newspaper<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sada.ly\/en\/the-central-bank-of-egypt-obtains-huge-sums-of-qatari-and-libyan-deposits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Central Bank of Egypt obtains huge sums of Qatari and Libyan deposits - Sada Newspaper\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Egypt said on Sunday that it had received huge deposits from Libya and Qatar late last year as Egypt grappled with a foreign currency shortage. 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