The Central Bank of Egypt revealed that Egypt's net foreign exchange reserves rose to $ 34.551 billion by the end of April, compared to its previous level of $ 34.447 billion in March.
On May 1, the Central Bank of Egypt announced the sale of $1.008 billion worth of one-year dollar-denominated treasury bills at auction, with an average yield of 4.9 percent. The International Monetary Fund has approved a $3 billion financial support package for Egypt for 46 months. The package includes a flexible exchange rate regime and strengthening social safety nets to protect the most vulnerable. The agreement allows Egypt to immediately disburse $347 million to support Egypt's balance of payments and public budget.
Source (Al-Arabiya.net Website, Edited)
