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Egypt's foreign reserves rise to $28.641 bln at end-April

Reuters , Wednesday 3 May 2017
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File Photo: Egypt's foreign reserves edged up to $28.641 billion at the end of April (Photo: Reuters)
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Egypt's foreign reserves edged up to $28.641 billion at the end of April from $28.5 billion at the end of March, the central bank said on Wednesday.

Egypt's foreign reserves have been climbing since it clinched a $12 billion three-year loan from the International Monetary Fund in November in a bid to lure back foreign capital.

The country had roughly $36 billion in reserves before an uprising in 2011 ushered in a period of political turmoil, scaring away tourists and foreign investors, key sources of hard currency. 

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