VOL. XLIII

No. 14

3-April-2000

EGYPT

Egypts Foreign Reserves Fall But Current Account Deficit Shrinking

Egypts foreign currency reserves have continued to fall, according to the latest statistics released by the Central Bank of Egypt. At end-December 1999 foreign reserves had slipped to $15.63bn, their lowest level since 1993, according to Agence France Presse (AFP). The agency said the Central Banks net international reserves registered their 16th consecutive monthly drop, down from $16.18bn in...