{"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\" 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\" 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\" 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\" 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\" 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\" 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\" 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,"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":[],"_links":{"self":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/1053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/comments?post=1053"}],"version-history":[{"count":0,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/posts\/1053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media\/1054"}],"wp:attachment":[{"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/media?parent=1053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/categories?post=1053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sada.ly\/en\/wp-json\/wp\/v2\/tags?post=1053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}