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: