June 4, 2017 / 12:55 PM / 2 months ago

Egypt's foreign reserves rise to $31.126 bln at end-May

1 Min Read

CAIRO, June 4 (Reuters) - Egypt's foreign reserves jumped to $31.126 billion at the end of May from $28.641 billion at the end of April, the central bank said on Sunday.

Egypt's foreign reserves have been climbing since the country clinched a $12 billion three-year loan from the International Monetary Fund in November in a bid to lure back foreign investors.

It had roughly $36 billion in reserves before an uprising in 2011 ushered in a period of political turmoil, scaring away tourists and foreign investors, key sources of hard currency. (Reporting by Eric Knecht; Editing by Susan Fenton)

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