spot_img
spot_img
spot_img
spot_img
spot_img

Egypt net foreign reserves rise to $42.524b after Eurobond sale

Egypt net foreign reserves :: Egypt’s foreign reserves rose to $42.524 billion (Dh156 billion) at the end of February from $38.209 billion at the end of January, the central bank said on Sunday, 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img

Related News

Stitch & Tex: New Textile Exhibition Brand for Egypt, Saudi Arabia, and Morocco

Business Plus Fairs, a UAE-based exhibition organizer specializing in...

SCZONE Chairman Withnesses the Groundbreaking Ceremony for the Hangsheng Textile the 1st Ever Project in Qantara West

Mr. Waleid Gamal El-Dien, Chairman of the General Authority...

Voltalia and TAQA Arabia Partner to Boost Egypt’s Green Energy and Hydrogen Production

Voltalia (Euronext Paris, ISIN code: FR0011995588), a global leader...

Egypt Aims to Triple Foreign Direct Investment to $30 Billion

In a bold move, Egypt's newly formed cabinet has...

Italian Textile Machinery: Orders Still Declining in 2024 Second Quarter

In the second quarter of 2024, the order index...

Africa; A Regional Cotton Yarn Spinning and Weaving Hub

Interview with Mr Ahmed El-shrief; Marketing & Export Manager of...

Shrinkage in EC and Decrease in Turkish Export

The contraction in European economies also caused damage to...
×