Cairo – Mubasher: Egypt's net foreign exchange reserves provisionally reached $ 17.546 billion by the end of May 2016, compared with $16.561 billion in April and $16.561 billion in March 2016, said the Central Bank of Egypt on Monday
Earlier, the government announced that Egypt will pay back $1.8 billion foreign debts during July 2016, including the $1 billion last installment of the Qatari deposit as well as $800 million dues to the nineteen-creditor Paris Club that had been already paid last Friday and Saturday.
It is worth mentioning that Egypt's total external debt stood at $53.4 billion by the third quarter of the fiscal year 2015/16, according the central bank's database.
The central bank aspires to raising net foreign exchange reserves to $25 billion by the end of 2016.
