Khaberni - Arab countries hold deposits at the Egyptian Central Bank estimated at around $20.4 billion after Egypt repaid $11 billion of UAE deposits included in a deal worth $35 billion.
According to the latest data available from the Egyptian Central Bank, these deposits are divided into about $11.1 billion short-term deposits, i.e., less than a year, against $9.3 billion medium and long-term deposits, with the maturity of some of these segments expected in the coming months of April, September, and October of this year, amid anticipation for renewal or repayment decisions.
Three Gulf countries top the list of depositors: Saudi Arabia with $10.3 billion, Kuwait with $4 billion, and Qatar with $4 billion, where medium and long-term Saudi deposits worth $5.3 billion are due in October.
A Kuwaiti segment valued at $2 billion is due in April, and another similar one in September. The Qatari deposits are short-term, and no imminent maturity has been announced for them.
Qatar holds short-term deposits of about $4 billion, and Doha signed an investment agreement worth $3.5 billion to develop the "Alam al-Rum" and "Samla" areas, and Finance Minister Ahmed Kojok confirmed that this deal is separate from the deposits at the Central Bank, indicating their continuation.
About 12 years ago, Egypt began receiving Arab deposits, especially from the Gulf Arab countries, as a direct financial support tool to strengthen the foreign currency reserves and face shortages of hard currency during periods of economic pressure and exchange rate fluctuations.
These deposits contributed to the stability of liquidity and covering import needs and are considered a form of Arab economic solidarity.
The International Monetary Fund (IMF) confirmed that some Gulf countries are committed to maintaining their deposits until the end of the current financing program with Egypt ($8 billion in total), of which about $5 billion has been disbursed, with the remaining $3 billion to be paid in two installments until the end of December 2026.
