Egypt's Nirs Reach $40 Bln in March - The Highest Since February 2022Source: www.export-egypt.com 4/3/2024, Location: Africa |
|
|
|
|
|
Egypt’s Net International Reserves reached $40.36 billion at the end of March 2024, the highest since February 2022, according to data released by the Central Bank of Egypt.
The increase is the highest since February 2022 when the reserves reached $40.99 billion. Similarly, the latest reserve increase surpasses the value recorded in February 2024 ($35.31 billion). The recent increase in NIRs has been attributed to recent inflows to the Egyptian economy. Since February, the government has taken several actions to provide US dollar liquidity in the local market for releasing the stockpiled goods in ports and keeping market stability amid the elevating inflation. Weeks ago, the World Bank Group (WBG) announced new financing to Egypt of over $6 billion over the next three years. Similarly, the International Monetary Fund (IMF) has expanded its Extended Fund Facility (EFF) loan programme for Egypt from $3 billion to $8 billion over four years. The European Union (EU) has, for its part, pledged more than $8 billion in loans and financing to support the country’s economy amid the repercussions of the Gaza and Sudan wars. In early March, Egypt signed a $35 billion investment deal -- the largest foreign direct investment (FDI) in Egypt's history -- with the United Arab Emirates to develop Ras El-Hekma at the North Coast. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
