Egypt's External Debt Repayment Plan for 2024-2025 Unveiled by World Bank

The World Bank has revealed Egypt's external debt repayment schedule for the current fiscal year, totaling $60.8 billion to be repaid between July 2024 and June 2025.

The schedule shows $14.7 billion in payments due for the first quarter, which has already been completed, and approximately $15 billion is expected for the current quarter. The repayment burden will peak in the third quarter, beginning January 2025, with a significant $20.59 billion, before easing to $10.5 billion in the final quarter. This figure includes $52.8 billion in principal payments and around $8.1 billion in interest.

The Central Bank of Egypt is expected to repay $20.8 billion in deposits this fiscal year, most of which are usually renewed. Additionally, the government faces a bond repayment of $3.3 billion. Various other entities must settle loans amounting to $31.04 billion, including $13.6 billion from the government, $2.5 billion from the central bank, and approximately $13.3 billion from banks. Other sectors owe roughly $1.7 billion, with an additional $4.9 billion in foreign trade facilities.

Looking ahead, World Bank data indicates that Egypt's debt obligations for the next fiscal year will be reduced to $21.7 billion. The Egyptian government is currently negotiating investment deals with Saudi Arabia, which could potentially convert $10 billion in Saudi deposits, the majority of which are due this fiscal year.

Egypt's external debt has decreased to $152.9 billion in the first half of this year, down from $168 billion at the close of 2023, thanks to the Ras El-Hekma deal, which brought in $24 billion, as well as the conversion of UAE dollar deposits into Egyptian pounds.