Foreign reserves up by USD 2.098 bn

Egypt’s foreign reserves rose to USD 26.363 bn in January, the CBE said in a statement, a gain of just under USD 2.1 bn as the proceeds from the USD 4 bn eurobond issuance were partially offset by a USD 700 mn payment to the Paris Club, Al Borsa reports. CBE Governor Tarek Amer had also said in early January that Egypt would be repaying a USD 1 bn loan from Turkey.