Egypt net int'l reserves increase to $46.9 bln by end-October

This follows a rise from $46.5 billion at the end of August, compared to $46.3 billion at the end of June.

In its third review report, the International Monetary Fund (IMF) projected Egypt's NIRs to rise from $47.2 billion in FY2024/2025 to $66.5 billion in FY2028/2029.

Additionally, Egypt has secured financial packages totalling over $57 billion from international financial institutions and development partners.

In February, the country signed a $35 billion deal for the Ras El-Hekma project, marking the largest foreign direct investment (FDI) deal in Egypt's history.

Furthermore, Egypt received the third instalment of the $8 billion loan programme from the IMF in July after successfully completing the third review.

It also signed a 7.4 billion euro deal with the EU to support investment in the country. As part of the agreement, Egypt received 1 billion euros in March.

The fourth review of Egypt's IMF programme is currently underway this week.