Egypt received cash inflows of $200 billion in 4 years – c.bank governor
Egypt’s central bank governor Tarek Amer said on Sunday the country had received cash inflows of $200 billion in the past 4 years.
The Egyptian economy was battered by the ongoing political turbulence in the Middle East region where many expatriates live there, Amer added in a banking conference.
Egypt’s net foreign reserves rose to $45.354 billion in November from $45.247 billion in October, the central bank announced last week.
Reserves surged significantly after Egypt embarked in 2016 on a three-year, IMF-backed economic reform programme. They have seen smaller increases since the summer of 2018.