Egypt foreign reserves rise to $44.513 bln at end-November – central bank

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An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt December 27, 2016. REUTERS/Mohamed Abd El Ghany

CAIRO, Dec 4 (Reuters) – Egypt’s foreign currency reserves rose slightly to $44.513 billion at the end of November from $44.501 billion in October, the central bank said on Tuesday.

The reserves have been climbing since Egypt secured a $12 billion, three-year International Monetary Fund loan programme in 2016 as part of efforts to attract foreign investors and revive its ailing economy.

Reporting by Yousef Saba Editing by Andrew Heavens

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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