CAIRO: Egypt’s net foreign reserves fell sharply to $15.536 billion at the end of July, the central bank said on Sunday. Reserves stood at $17.546 billion at the end of June.
Egypt had roughly $36 billion in reserves before an uprising in 2011 overthrew Hosni Mubarak.
That ushered in a period of political turmoil that scared away tourists and foreign investors, key sources of foreign exchange.
Copyright Reuters, 2016
Courtesy : BRecorder