Middle East & Africa: Economic overview

April 2017

Egypt has boosted its foreign exchange reserves, some of which will be used to purchase LNG during the summer.

Egypt’s forex reserves amounted to $28.5 billion at the end of March 2017 – the highest level since March 2011. Foreign aid and the country’s increased participation in the international debt market accounted for the rise. In March, Egypt received the second tranche of $1 billion of its loan from the World Bank, which followed the $500 million second tranche of a loan from the African Development Bank.

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up