Egypt Export Marketplace for products & services  •   Log in | Sign up  

Export Egypt Home
made in Egypt Egypt products
  Home  |  Products  |  Business Center  |  News   |  Events   |  My Account Follow us on Facebook
Products and vendors Services and providers Oil & Gas Software and publications

Egypt's Foreign Reserves Nearing $35 Bin: President El-Sisi
Source: 7/25/2017

Egypt’s foreign reserves are now close to $35 billion, President Abdel Fattah El-Sisi announced during a question-and-answer forum at the Fourth National Youth conference in Alexandria

. “I am doing my best, Egyptians. Are you fulfilling your duties?” El-Sisi said, addressing the attendees and television audience.

. Earlier this month, the Central Bank of Egypt continued to climb, registering $31.305 billion at the end of June.

. The reserves have been climbing since Egypt signed an agreement for a three-year $12 billion loan from the International Monetary Fund (IMF) in November 2017.

. Reserves have increased from $28.641 billion at the end of April to $31.125 billion at the end of May.

. The president's estimate of current reserves is close to the $36 billion in foreign reserves Egypt held before the 2011 uprising.

. The popular uprising that toppled former president Hosni Mubarak in 2011 led to a period of political turmoil that dried up Egypt's vital sources of foreign currency, such as tourism and foreign investment.

Related Categories: Accounting, Statistics  Economics/Financial Analysis  General  Insurance 

Export Egypt - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us