Egypt’s net foreign reserves rise $2.2bln in June

Egypt secured a $2.7 billion loan from the IMF

  
Aerial View of Cairo city. Image used for illustrative purpose.

Aerial View of Cairo city. Image used for illustrative purpose.

Getty Images

Cairo –  Egypt’s net international reserves increased by $2.2 billion to $38.201 billion at the end of June, data by the Central Bank of Egypt (CBE) showed on Tuesday.

The country’s foreign reserves reached $36.003 billion in May and $37.037 billion in April.

It is worth mentioning that in May, Egypt secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).

Moreover, the government also reached a staff-level agreement with the IMF on a $5.2 billion standby loan.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.