Egypt’s foreign reserves jumped by $3bn to $19.59bn at the end of September – the highest since June 2015 – according to latest figures from the Central Bank of Egypt (CBE). Egypt’s foreign reserves stood at $36bn before the January 2011 revolution, but the political unrest which followed has gradually reduced foreign exchange earnings with a fall in tourism arrivals and foreign investment.

No reason was given for the rise in reserves, but a $1bn deposit from the UAE...