By: Heba El-Kordy
Cairo – Mubasher: Egypt’s local liquidity continued its upward trend, rising by EGP 53 billion or 1% month-on-month (MoM) to EGP 5.184 trillion in April, hitting its highest level ever recorded, compared to EGP 5.131 trillion, according to data released by the Central Bank of Egypt (CBE).
Year-on-year (YoY), the domestic liquidity increased by 19.17% from EGP 4.35 trillion in April 2020.
According to the data, the money supply rose to EGP 1.19 trillion in April from EGP 1.18 trillion a month earlier.
The country’s net international reserves grew to $40.343 billion at the end of April from $40.337 billion in March.
Egypt is expected to obtain $1.6 billion in funding from the International Monetary Fund (IMF) as a new tranche of the $5.2 billion standby loan within the coming weeks.
Translated by: Zeinab Adel
