Egypt FX reserves hit record $36bn but debt surges to $74bn

by | August 2, 2017 3:12 pm

Egypt’s foreign-currency reserves jumped to a record $36.04bn in July, as investor confidence surged since the country embarked on an International Monetary Fund-backed economic program last year. Net international reserves rose by $4.7 billion helped by a $1.25 billion loan installment from the IMF, according data from central bank of Egypt which is often used in…

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