Egypt’s foreign reserves rose to $37.019 bln at end-December

Egypt’s foreign reserves surged to $37.109 billion at the end of December from $36.723 billion a month earlier, the central bank announced on Wednesday.

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

The country’s foreign reserves at the end of December 2016 were $24.265 billion.

The values of Egypt’s foreign reserves held by the Central Bank of Egypt during 2017:

Month

Value (US$ Bln)

December 2017

37.019

November 2017

36.723

October 2017

36.703

September 2017

36.535

August 2017

36.143

July 2017

36.036

June 2017

31.305

May 2017

31.126

April 2017

28.641

March 2017

28.526

February 2017

26.542

January 2017

26.363

December 2016

24.265

November 2016

23.058

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