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Umniah Ibrahim
The report on the external situation of the Egyptian economy, published by the Central Bank, revealed a deposit of two billion dollars for the state of Kuwait on 20 September.
Egypt had received the Kuwaiti deposit in 2013 for a period of 5 years and it had been agreed in 2018 to extend it for another year.
The Central Bank data presented in the report indicate Kuwait's deposit payment plan, worth $ 2.066 billion for the Gulf State in September, of which a deposit value of $ 2 billion $ and unpaid interest of approximately $ 66.86 million.
Tariq Amer, the governor of the Central Bank, has made it clear in earlier statements that plans to repay foreign debt may be subject to some modifications, some of which may be extended.
According to the payment plan report, it is estimated that about $ 1.358 billion was paid to Kuwait in the first half of 2019, specifically in April, of which $ 1.333 billion was two payments from another deposit worth 2 billion USD and about 25 million USD of interest.
The report covers the period from July to December 2018. The Central Bank has indicated that the payment plan established for Kuwaiti deposits as of 1 January 2019.
In accordance with the planned payment plan, Kuwait 's deposits will be completed by the end of April 2020. $ 675.48 million will be paid, of which interest is approximately $ 8.48 million.
According to the report, the total deposits of the State of Kuwait, $ 4 billion, including two deposits, the first 2 billion, LIBOR interest rate to 12 months, received by the Bank September 24, 2013 for a period of five years, which had been decided to extend an additional year to expire on September 20, 2019.
The second deposit is also 2 billion USD, received by Egypt on 21 April 2015 at a fixed interest rate of 2.5% and repayable in three equal installments of 666.6 million USD per installment, of which two payments were made in April 2019, for a total amount of USD 1.333 billion. Payment of the last installment on April 22, 2020.
Egypt had reached an agreement with Kuwait for the first installment of the second deposit due in April 2018 to be made in two installments in April 2019. In addition,
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