Cairo – Mubasher: Egypt’s net international reserves grew by $113 million to $38.314 billion in July, data by the Central Bank of Egypt (CBE) showed on Thursday.

The country’s foreign reserves reached $38.201 billion in June and $36.003 billion in May.

In May, Egypt secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI) to help mitigate the impact of the coronavirus (COVID-19).

Additionally, the North African nation reached a staff-level agreement with the IMF on a $5.2 billion standby loan.