Kuwait Renews $2 Billion Deposit with Egypt's Central Bank for Another Year

Kuwait, 4 December, 2024 : Kuwait has renewed a $2 billion deposit with the Central Bank of Egypt (CBE) for another year, extending the maturity date beyond April 2024, according to the CBE’s latest report on Egypt’s external position.

This deposit is part of Kuwait’s broader financial support to Egypt, which currently holds a total of $4 billion in deposits with the CBE. While one tranche has been extended, the status of an additional $2 billion deposit, which matured in September, remains unclear.

Kuwait's support is part of a wider strategy by Gulf nations to assist Egypt’s economy amid ongoing fiscal challenges.

Source : www.zawya.com