Egypt net foreign reserves rise to $44.14 bln at end-May-c.bank
CAIRO (Reuters) – Egypt’s net foreign reserves rose to $44.14 billion at the end of May from $44.030 billion at the end of April, the central bank said on Monday.
The headquarters of Egypt’s Central Bank are seen in downtown Cairo, Egypt January 11, 2018. Picture taken January 11, 2018. REUTERS/Mohamed Abd El Ghany
Egypt’s foreign reserves have been climbing since it secured a $12 billion, three-year International Monetary Fund loan programme in 2016 as part of efforts to woo foreign investors and revive its ailing economy.
Reporting by Amina Ismail; Editing by Toby Chopra
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