Egypt's foreign reserves drop $2 billion in April
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Egypt's international reserves fell by $2 billion in April, the fourth consecutive month of declines as the nation's economy reels from the aftereffects of the mass uprisings that toppled former President Hosni Mubarak.
Central Bank data posted on Thursday showed net international reserves fell to $28 billion from $30.1 billion in March. The drop underscores the dire challenges confronting officials who are struggling to reform the political process amid continuing labor protests and unrest that has shattered economic growth forecasts for the current fiscal year. (AP)
