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Thursday, 7 December 2017

CBE repays another USD 600 mn to Afreximbank

The CBE repaid USD 600 mn to the African Export-Import Bank on Wednesday as part of a USD 3.2 bn facility, state news agency MENA reported, according to Al Masry Al Youm. This comes two days after the CBE repaid USD 2 bn to Afreximbank, bringing the total amount repaid to USD 2.6 bn. Egypt plans to make the final USD 600 mn payment next Monday, CBE Governor Tarek Amer told MENA. The central bank will also repay a USD 500 mn Afrexim trade facility agreement in April or May 2018, Afreximbank’s Executive Vice President Amr Kamel told reporters on Tuesday, Al Shorouk reports. Afreximbank had agreed to grant the facility in February 2016 to help Egyptian importers through the FX liquidity crisis.

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