Latest news with #foreignassets
Bloomberg
4 days ago
- Business
- Bloomberg
US Treasury Sanctions Venezuela's Cartel de los Soles
The Department of the Treasury's Office of Foreign Assets Control said it has sanctioned the Cartel de los Soles. The Venezuela-based criminal group also provides support to other organizations including Tren de Aragua and the Sinaloa Cartel, the department said in an statement.
Reuters
07-07-2025
- Business
- Reuters
Egypt's net foreign assets rise in May to $14.7 billion
CAIRO, July 7 (Reuters) - Egypt's net foreign assets rose by $1.2 billion to $14.7 billion in May, central bank data showed on Monday, approaching levels reached in March when the International Monetary Fund approved a $1.2 billion disbursement for the country. Egypt's net foreign assets, which include assets held by both the central bank and commercial banks, turned negative in February 2022 and only returned to positive territory in May last year. They had fallen by $1.5 billion in April to roughly $13.6 billion. The previous month, they had shot up to more than $15 billion after the IMF approved the disbursement following completion of a review of the country's $8 billion economic reform programme. Commercial banks' net foreign assets rose by $3.2 billion in May, reaching $4.8 billion, the highest level since February 2021, Egypt's central bank said.
Zawya
07-07-2025
- Business
- Zawya
Egypt's net foreign assets rise in May to $14.7bln
Egypt's net foreign assets rose by $1.2 billion to $14.7 billion in May, central bank data showed on Monday, approaching levels reached in March when the International Monetary Fund approved a $1.2 billion disbursement for the country. Egypt's net foreign assets, which include assets held by both the central bank and commercial banks, turned negative in February 2022 and only returned to positive territory in May last year. They had fallen by $1.5 billion in April to roughly $13.6 billion. The previous month, they had shot up to more than $15 billion after the IMF approved the disbursement following completion of a review of the country's $8 billion economic reform programme. Commercial banks' net foreign assets rose by $3.2 billion in May, reaching $4.8 billion, the highest level since February 2021, Egypt's central bank said. (Writing by Alexander Dziadosz. Editing by Jane Merriman)
Asharq Al-Awsat
04-06-2025
- Business
- Asharq Al-Awsat
Egypt's Net Foreign Assets Retreat in April after March Jump
Egypt's net foreign assets (NFAs) fell by $1.5 billion in April, central bank data showed on Wednesday, retreating from March, when the approval of the fourth review of the country's IMF program sparked a jump. NFAs slid to the equivalent of $13.54 billion, from $15.08 billion at the end of March, according to Reuters calculations based on official central bank currency exchange rates. In March, NFAs jumped by $4.9 billion after the International Monetary Fund approved the disbursement to Egypt of $1.2 billion after completing its review of the country's $8 billion economic reform program, Reuters reported. The IMF also approved a request for a $1.3 billion arrangement under the IMF's resilience and sustainability facility. The approvals led to an inflow of foreign investment in Egyptian pound treasury bills, bankers said. Egypt had been using foreign assets, which include assets held by both the central bank and commercial banks, to help prop up its currency since as long ago as September 2021. Net foreign assets turned negative in February 2022 and only returned to positive territory in May last year. Foreign assets increased in April at both the central bank and commercial banks, while foreign liabilities fell at both as well.
Zawya
04-06-2025
- Business
- Zawya
Egypt's net foreign assets retreat in April after March jump
Egypt's net foreign assets (NFAs) fell by $1.5 billion in April, central bank data showed on Wednesday, retreating from March, when the approval of the fourth review of the country's IMF programme sparked a jump. NFAs slid to the equivalent of $13.54 billion, from $15.08 billion at the end of March, according to Reuters calculations based on official central bank currency exchange rates. In March, NFAs jumped by $4.9 billion after the International Monetary Fund approved the disbursement to Egypt of $1.2 billion after completing its review of the country's $8 billion economic reform programme. The IMF also approved a request for a $1.3 billion arrangement under the IMF's resilience and sustainability facility. The approvals led to an inflow of foreign investment in Egyptian pound treasury bills, bankers said. Egypt had been using foreign assets, which include assets held by both the central bank and commercial banks, to help prop up its currency since as long ago as September 2021. Net foreign assets turned negative in February 2022 and only returned to positive territory in May last year. Foreign assets increased in April at both the central bank and commercial banks, while foreign liabilities fell at both as well. (Reporting by Patrick Werr; Editing by Alex Richardson)
