Egyptian citizen’s share in foreign debts amounts to LE 13,600

CAIRO – 6 August 2017: The share of the Egyptian citizen in the foreign debts hiked to LE 13,600 ($760) by the end of the third quarter of the fiscal year 2016/17, compared to LE 10,200 ($573) in the year-ago period.

Foreign debt

hiked $18 billion in nine months to reach $73.9 billion by the end of March of fiscal year 2016/17, according to the Central Bank of Egypt (CBE).

Egypt has not and will not fail to pay its due foreign debts’ in time, top banking official said, adding that Egypt had paid around

$700 million dues to the Paris Club

in July.

Egypt’s total debt to Paris Club dropped to about $3.4 billion at the end of December, down from $3.6 billion at the end of September, according to the Central Bank of Egypt’s (CBE) quarterly report.