Egypt's foreign reserves reaches 26.4bn in January

2017-02-06 15:58
iStock

iStock

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cairo - Egypt's Central Bank says that the country's foreign reserves have reached $26.4bn in January, up from $23bn in November.

The bank announced the increase in a brief statement posted online on Monday.

The rise comes after the government secured a $12bn loan from the International Monetary Fund.

In order to qualify for that loan, the government imposed a set of tough economic measures, including reduced subsidies and the devaluation and then flotation of its local currency.

The economic measures were hailed by the IMF, however they have left many Egyptians struggling with both reduced buying power and spiraling inflation.

Read more on:    imf  |  egypt  |  north africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

Inside News24

 
/News
 

Play with your pet when you're not at home

Many pets are alone at home during the week while their owners are at work. So what do these animals get up to while they’re home alone?

 
 

Paws

How to get rid of fleas
12 Cool cat facts
Chocolate can be fatal for dogs
Spider-man star's adorable relationship with his dog
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.