April 2, 2013 / 9:26 AM / 5 years ago

Egypt c.bank says foreign reserves slightly lower in March

DUBAI, April 2 (Reuters) - Egypt’s central bank governor said on Tuesday that foreign exchange reserves had fallen slightly in March from February’s level of $13.5 billion.

Governor Hisham Ramez told reporters in Dubai that the reserves were “down a little bit” from February.

Previously, the central bank had said the reserves did not fall significantly in March.

Planning minister Ashraf al-Araby said earlier on Tuesday that the country planned to boost its foreign reserves to $16 billion by the end of June.

The finance minister, Al-Mursi Al-Sayed Hegazy, told al-Arabiya television that he was negotiating a loan worth $465 million with the Arab Monetary Fund. Egypt is also seeking $4.8 billion from the International Monetary Fund, among other aid.

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