FILE - Central Bank of Egypt’s building in downtown Cairo FILE - Central Bank of Egypt’s building in downtown Cairo

Egypt foreign reserves sufficient for 8 months' imports: CBE official

Tue, Jan. 30, 2018
CAIRO - 30 January 2018: Egypt’s foreign reserves are sufficient to cover imports for eight-months, Central Bank Sub-governor Rami Aboul Naga said on Tuesday.

Egypt’s foreign reserves stood at $37.02 billion in December from $36.723 billion at the end of November.

Cairo’s foreign reserves have been climbing since the country secured a $12 billion, three-year International Monetary Fund loan programme in 2016 in a bid to lure back foreign investors and revive its ailing economy.
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