People walk in front of the Central Bank of Egypt's headquarters at downtown Cairo, Egypt, November 3, 2016. Picture taken Egypt, November 3, 2016. (REUTERS/Mohamed Abd El Ghany)
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Egypt's foreign debts reached around $82.9 billion, for the period ending December 2017, rising by 4.9 percent compared to six months earlier, the Central Bank of Egypt revealed in a report on Wednesday.The measures were taken in order to qualify for a three-year $12 billion bailout loan from the International Monetary Fund, which it secured in 2016 .It highlighted Egypt's growth rate of 5.2 percent in the first half of fiscal year 2017/2018, up from 4.2 percent for the same period in 2016/2017 .Egypt's foreign reserves have continued to increase since it secured the IMF loan in 2016 .
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