DUBAI: Egypt’s Central Bank governor yesterday said that foreign exchange reserves had fallen slightly in March from February’s level of $13.5bn.
Governor Hisham Ramez told reporters in Dubai that the reserves were “down a little bit” from February.
Previously, the central bank had said the reserves did not fall significantly in March.
Planning minister Ashraf al-Araby said earlier yesterday that the country planned to boost its foreign reserves to $16bn by the end of June.
The finance minister, Al Mursi Al Sayed Hegazy, told Al Arabiya television that he was negotiating a loan worth $465m with the Arab Monetary Fund. Egypt is also seeking $4.8bn from the International Monetary Fund, among other aid. Reuters
