CBE: Egypt repaid dlrs 25bln in debts in two years

CAIRO, 28 August 2019: The Central Bank of Egypt (CBE) has said that Egypt managed to pay off 25 billion dollars in debts and loan interests from March 2017 till March 2019.

A statement issued by the bank on Wednesday said the repaid debts include 20 billion dollars in debt installments and 5 billion dollars as interest.

A reliable source at the bank had said that Egypt paid off 36.8 billion dollars since the June 30 Revolution in 2013.

The International Monetary Fund expected Egypt's debts to decline to 88 billion dollars by 2022 following the success of the country's economic reform program.

CBE governor Tarek Amer said recently that the country is committed to repaying all its foreign debts on scheduled time