2018-11-05
The Central Bank of Egypt (CBE) announced Monday that net foreign reserves stood at $ 44.501 billion at the end of October, slightly higher than the previous month.
 
The cash reserve was $ 44.459 billion in September 2018.
 
Egypt's foreign reserves have been steadily increasing since Tariq Amer took office as governor of the central bank in October 2015. It has only fallen twice in July 2016 and October 2016.
 
Egypt's foreign debt stood at 92.64 billion dollars at the end of June, up 17.2 percent year-on-year.
 
"If we are affected by the Iranian sanctions, it will pose a serious challenge to our economy as a whole."