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 Net Foreign Reserves Rise to $42.524 Bln after Eurobond Sale
Source: 3/4/2018

Egypt’s foreign reserves rose to $42.524 billion at the end of February from $38.209 billion at the end of January, the central bank said helped by a recent Eurobond sale.

Cairo’s foreign reserves have been climbing since the country 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..

Reserves had dropped to about $19 billion before Egypt signed the three-year IMF deal, with Egypt floating the currency and lifting capital controls to lure back investors..

Egypt last month raised $4 billion in a dollar-denominated Eurobond sale to help plug its financing deficit and boost dollar holdings..

“Net international reserves jumping to a new safe level will enhance investor confidence and minimise the funding gap even with the $12 billion of repayments outstanding for this year,” said Hany Farahat, senior economist at CI Capital..

Egypt’s foreign debt rose to $80.8 billion in the quarter to the end of September.

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