Cairo – Mubasher: Egypt’s net foreign reserves rose by $1.207 billion by the end of December 2016 to stand at $24.265 billion, said the Central Bank of Egypt in a statement on Thursday.
Earlier, the bank of Egypt announced that FX reserves jumped to $23.058 billion by the end of November, compared with $19.041 billion by the end of October 2016.
On 11 November, the International Monetary Fund delivered the first $2.75 billion tranche of a $12 billion three-year loan.
The Funding gap is at $30 billion over three year ending on 30 June 2018, according to the government’s reformatory program.
