The Central Bank of Egypt (CBE) disclosed that foreign exchange reserves rose from 44.030 billion in April to 44.139 billion dollars at the end of May. This is to be considered the highest level of Egypt's hard currency reserves since the start of recording the reserve data in the early 1990s. Thus, the cash reserve jumped by about $ 109 million in May. In April, Egypt launched two billion euros in two-year bonds for eight and 12 years, yielding 4.75 percent and 5.625 percent, respectively. While the country's external debt jumped to $ 82.9 billion at the end of December. Egypt's reserves were about $ 19 billion before it signed a $ 12 billion three-year loan agreement with the International Monetary Fund in 2016, liberalizing the local currency exchange rate and lifting the capital restrictions that were to attract investors.