The CBE will be settling short-term debts to foreign countries amounting to USD 8.4 bn over the next six months, an unnamed bank official tells Al Mal. The CBE will be paying USD 4.3 bn in November, USD 3.8 bn in December, and USD 22-153 mn for July-October. Of those, USD 2 bn will be used to repay international financing institutions for T-bills issued on the Irish bourse and USD 400 mn will be paid to Turkey to settle a USD 1 bn 2012-13 loan, while USD 500 mn will settle debts with Libya and USD 100 mn will clear dues owed to Saudi Arabia. The bank has already settled USD 3.7 bn in debts during 1H2017.

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