(DNE Photo)
International foreign reserves registered $15.29bn at the end of March, compared to $15.45bn the preceding month, the Central Bank of Egypt (CBE) announced Tuesday.
In December, reserves recorded $15.3bn and climbed to $15.42bn in January.
During the opening ceremony of the Egypt Economic Development Conference (EEDC), Saudi Arabia, Kuwait and the United Arab Emirates (UAE) pledged $12bn in economic assistance to Egypt.
The UAE promised $4bn to Egypt, with $2bn in deposits in the CBE while Saudi Arabia, which also pledged $4bn, will deposit $1bn in the CBE.
Kuwait’s assistant package is comprised of $4bn in investments.
The CBE has recently repaid debts to the ‘Paris Club’ in January amounting to $681m, and $2.5bn to Qatar, which it had received as a deposit under the rule of former president Mohamed Morsi.
