Real estate related economic and financial news covering the MENA region.
Egypt foreign reserves decline again in July
Aug 08, 2012
Egypt's foreign reserves fell last month to $14.42bn from $15.53bn in June, due to the government's repayment of a $1bn Eurobond and a $607m payment to Paris Club lenders, Reuters has reported. Reserves have plunged by well over half since January 2011, the start of the political turmoil that has scared away tourists and investors, two of Egypt's main sources of foreign currency.