(Adds UAE deposit, IMF background)
CAIRO, Sept 4 Egypt's net foreign reserves rose
to $16.564 billion at the end of August, the central bank said
on Sunday. Reserves stood at $15.536 billion at the end of July.
Egypt had roughly $36 billion in reserves before an uprising
in 2011 overthrew Hosni Mubarak. That ushered in a period of
political turmoil that scared away tourists and foreign
investors, key sources of foreign exchange.
The United Arab Emirates said last month it had agreed to
provide Egypt's central bank with a $1 billion deposit for a
duration of six years.
The International Monetary Fund (IMF) agreed in principle to
grant Egypt a $12 billion three-year facility to support a
government reform programme aimed at plugging a budget gap and
rebalancing the currency market, but this must still go to the
IMF board for approval.
The lending programme is contingent upon the government
securing $5-6 billion in bilateral financing for the first year.
(Reporting by Eric Knecht; Editing by Angus MacSwan and Louise