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Central Bank returns US$500 million deposit to Qatar

A senior official from the Finance Ministry said that the central bank is returning a US$500 million deposit to Qatar on Tuesday.

Qatar had deposited the sum on 3 December 2012 for a year. It had also provided Egypt with US$8 billion since the outbreak of the 25 January 2011 revolution, of which US$5.5 billion were in the form of bonds.

Egypt had also returned another US$500 deposit to Qatar in November opon its maturity date.

The official said the returned deposit would be deducted from the foreign reserves, which stood at US$18.59 billion in October compared to US$18.7 billion in September.

Edited translation from Al-Masry Al-Youm

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