foreign reserves

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…
US senator Kerry: Economy is Egypt’s main problem
Egypt

US senator Kerry: Economy is Egypt’s main problem

CAIRO — Egypt urgently needs a massive cash injection and should strike a deal with the International Monetary Fund as…
Military official sees Egypt foreign reserves plunging
Business

Military official sees Egypt foreign reserves plunging

Egypt's foreign reserves will plunge by a third to US$15 billion by the end of January and the budget deficit…
Egypt pound falls to weakest in almost 7 years
Business

Egypt pound falls to weakest in almost 7 years

CAIRO — The Egyptian pound was bid as weak as 6.0036 to the US dollar on Tuesday, its lowest in…
Egypt T-bill yields surge, foreign cash may be needed
Business

Egypt T-bill yields surge, foreign cash may be needed

Yields at Egyptian Treasury bill auctions have hit levels last seen during the 2008 global financial crisis and traders said…
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