foreign reserves

Foreign reserves fall to US$15 billion
Business

Foreign reserves fall to US$15 billion

Egypt's net foreign reserves fell to US$15.12 billion at the end of March from $15.72 billion a month earlier, the…
We rejected an IMF request to devalue the pound by 20%, says official
Business

We rejected an IMF request to devalue the pound by 20%, says official

A senior government official said Monday that the government rejected a request by the International Monetary Fund to devalue the…
Mubarak under investigation over national security, debt issues
Egypt

Mubarak under investigation over national security, debt issues

Judicial sources have said that the public prosecutor is wrapping up investigations of former President Hosni Mubarak related to potential…
Government gets US$1.2 bn commodity loan from Islamic bank
Business

Government gets US$1.2 bn commodity loan from Islamic bank

The Egyptian government has received a US$1.2 billion credit facility from the International Islamic Trade Finance Corporation (ITFC) to help…
Egypt foreign reserves stand at $15.7 billion
Business

Egypt foreign reserves stand at $15.7 billion

Egypt's Central Bank says the country's net foreign reserves dropped again in February, but by less than any month since…
Official: EU to provide Egypt with US$500 million in aid
Egypt

Official: EU to provide Egypt with US$500 million in aid

The European Union intends to support Egypt’s economy with US$500 million in response to a request by the Egyptian government,…
Foreign reserves fall, add to pressure on pound
Business

Foreign reserves fall, add to pressure on pound

The drain on Egypt's foreign reserves showed little sign of abating in January, adding to pressure on the government to…
Central Bank tightens money transfer rules
Business

Central Bank tightens money transfer rules

Egypt's Central Bank has tightened its rules for importers who want to transmit funds, a move analysts say seems designed…
Egypt’s foreign reserves drop to $18.12 billlion
Business

Egypt’s foreign reserves drop to $18.12 billlion

Egypt's foreign reserves dropped to US$18.12 billion at the end of December from $20.15 billion a month earlier, the Central…
Govt issues bonds to stem decline of foreign reserves
Business

Govt issues bonds to stem decline of foreign reserves

The Finance Ministry recently offered treasury bills worth US$2.5 billion in an effort to improve cash flow and stem withdrawals…
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