The Banking Executive Magazine - February 2022

Egypt’s Net International Reserves EGYPT’S NET INTERNATIONAL RESERVES HIT $40.9BLN END-JANUARY: CBE Egypt’s net international reserves have recorded $40.98 billion at the end of January 2022, according to data by the Central Bank of Egypt (CBE). This marks a monthly growth of $46 million in January, as the net foreign reserves hit $40.934 billion at the end of December 2021. It is worth noting that Egypt’s net in- ternational reserves rose at the end of December 2021 by $25 million from $40.909 billion in November 2021. The international reserves have been increasing gradually since June 2020 after it fell to about $36 billion at the end of May 2020 from $45.5 billion before the emergence of the Covid- 19 pandemic. ISSUE 158 FEBRUARY 2022 the BANKING EXECUTIVE 39