(MENAFN) Egypt net global reserves reached USD16.6bn by the end of August, while its foreign exchange reserves dropped by 11 percent in July to USD15.5bn.
The decline was attributed to the repayment of USD1.02bn bonds owed to Qatar, USD715m in debts owed to Paris Club and another USD250m to Libya.
Moreover, the UAE offered a deposit worth USD1bn to the Central Bank of Egypt, lasting for six years.
However, the country reserves fell to USD15.54b by the end of July this year, compared with USD36bn before Jan 2011 due to drop in tourism returns.
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