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Saudi Arabia transfers $1 bln to Egypt-minister - ASHARQ AL-AWSAT English Archive
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CAIRO, (Reuters) – Saudi Arabia has transferred $1 billion to Egypt’s central bank as an eight-year deposit, Planning Minister Faiza Abu el-Naga said on Thursday.

Egypt, which is also negotiating a $3.2 billion loan from the International Monetary Fund, has been seeking funds from international donors to help it plug a balance of payments deficit aggravated by the political and economic turmoil of the last 15 months.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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