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Egyptian foreign reserves down more than $1.5bn, at $18.5bn - Daily News Egypt

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Egyptian foreign reserves down more than $1.5bn, at $18.5bn

Government has to pay $250m in September as dues of bonds issued in international market


Egypt’s foreign reserves have registered $18.55bn in July, compared to $20.0797bn in June, the Central Bank of Egypt (CBE) announced on Wednesday.

The CBE has paid $700m to the Paris Club in July. In 2014, Egypt twice repaid $681m to the Paris Club, where the same figure was also paid to them by the beginning of 2015.

The Egyptian government is due to pay $250m in September as dues of bonds issued in international market, according to the Ministry of Finance.

In May, foreign currency in the CBE recorded $19.5597bn.

The international foreign reserves jumped to $20.5bn at the end of April 2015, compared to $15.29bn in March. The increase was attributed to the arrival of $6bn in Gulf deposits from Saudi Arabia, Kuwait and the UAE.

Since December 2011, foreign reserves fluctuated but did not surpass the $20bn figure. Meanwhile in January 2011, before the uprising that ousted former president Hosni Mubarak, Egypt’s reserves totalled $35.01bn.

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https://www.dailynewsegypt.com/2015/08/05/egyptian-foreign-reserves-down-more-than-1-5bn-at-18-5bn/
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