Egypt’s foreign reserves up by $27m in February

Egypt’s foreign reserves rose by $27 million in February to $15.456 billion, the central bank announced on Tuesday.
The country’s foreign reserves at the end of January were at $15.429 billion, also an increase from the $15.33 billion mark of the previous month, according to the bank.

Foreign reserves were at $16.909 billion at the end of October 2014. They dropped to $15.88 billion at the end of November, impacted by repaying the deposit to Qatar.

The Egyptian government has invited business delegations and heads of state from around the world to attend an investor conference in March.

It is reforming investment laws in an attempt to improve transparency and slash Egypt’s notorious red tape, hoping to attract the foreign capital needed to boost growth and provide jobs for a population surging toward 90 million.