Egypt Cenbank Chief: Kuwait to Transfer $2 Billion in Aid to Egypt

The Gulf Arab state of Kuwait will deposit $2 billion in aid in Egypt’s central bank next week, the Egyptian central bank governor said on Wednesday.

Hisham Ramez told the Al Arabiya television network the money would stay in the central bank for five years.

A political crisis that began when the army overthrew Islamist President Mohamed Morsi on July 3 has hammered Egypt’s economy.

In July, Kuwait pledged to provide $4 billion in aid to Egypt, matching pledges by Saudi Arabia and …

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