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Egypt foreign reserves rise to $44.46 bln: Central Bank

Monday 08/October/2018 - 03:06 PM
Sada El Balad
Edit by: Mohamed Emad

Egypt’s new foreign reserves rose to $44.459 billion at the end of September from $44.419 billion at the end of August، the central bank said on Monday، according to Amwal Al Ghad.

Reserves have been climbing since Egypt secured a $12 billion، three-year International Monetary Fund loan programme in November 2016 as part of efforts to woo foreign investors and revive its ailing economy.

Egypt roughly had $36 billion in reserves before an uprising in 2011 ushered in a period of political turmoil، scaring away tourists and foreign investors، key sources of hard currency.

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