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FinancialNews
06-11-18
Egypt surges to USD44.501b in foreign reserves
(MENAFN) Egypt was found to have recorded a boost in its foreign currency reserves by the end of October, reaching USD44.501 billion compared to the previous month.
Foreign currency reserves Egypt registered by the end of September, the central bank said, hit USD44.459 billion.
It comes after Egypt signed a three-year loan agreement with the International Monetary Fund at a worth of USD12 billion in 2016.
The agreement between the two sides is considered as part of hard works made to attract foreign investors to Egypt and save its economy.
MENAFN0611201800450000ID1097664805
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