AP Radio AP Radio News:

Feb 6, 3:44 AM EST

Egypt's foreign reserves reaches 26.4 billion in January


Latest News
4,300-year-old pyramid discovered in Egypt
Women join fight against female circumcision
Cheap electronics threaten Egyptian repairmen
Egypt shuffles Cabinet, appoints 1st female governor

Egypt swears in 9 new Cabinet ministers in limited shuffle

Militants kill Christian in Egypt's Sinai, second in a week

Israeli envoy to Cairo ordered to stay home due to threats

Lebanese president in Egypt, day after defending Hezbollah

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
European Central Bank: 'No room for complacency' on recovery

US retail sales rise in January, led by gas and restaurants

Cyprus expects robust economic growth this year

German, eurozone economic growth revised down slightly

UK inflation reaches a 2 1/2-year high in January

Japan logs 1 percent growth in 2016 as private demand stalls

IMF: Greece's debts are still unsustainable despite progress

Liberia leader bars official travel abroad for 60 days

Portugal is cautioned over high debt, low investment

Egypt's foreign reserves reaches 26.4 billion in January

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

CAIRO (AP) -- Egypt's Central Bank says that the country's foreign reserves have reached $26.4 billion in January, up from $23 billion in November.

The bank announced the increase in a brief statement posted online Monday.

The rise comes after the government secured a $12 billion loan from the International Monetary Fund. In order to qualify for that loan, the government imposed a set of tough economic measures, including reduced subsidies and the devaluation and then flotation of its local currency.

The economic measures were hailed by the IMF, however they have left many Egyptians struggling with both reduced buying power and spiraling inflation.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.



Latest News