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Egypt's foreign reserves jump to $38.209 billion by end of January

Reserves have been climbing since Egypt signed a $12 billion loan with the International Monetary Fund (IMF) in November 2016

Ahram Online , Sunday 4 Feb 2018
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(Photo:Al-Ahram)
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Egypt's foreign reserves spiked to reach $38.209 billion at the end of January, up from $37.019 billion at the end of December, the Central Bank of Egypt (CBE) announced Sunday.

Reserves have been climbing since Egypt signed a $12 billion loan with the International Monetary Fund (IMF) in November 2016, following the government decision to float Egypt's currency.

Egypt's net foreign reserves first hit pre-2011 levels in July 2017, reaching $36.036 billion after a $4.7 billion surge in July alone.
 

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