Egypt aims to extend debt life to 3.8 years by end of next June

CAIRO – 14 January 2021: Egypt’s Minister of Finance, Mohamed Maait, affirmed that the ministry's efforts to prolong the life of the debt will continue, as it reached about 3.2 years in June 2020, instead of 1.3 years in June 2013, and about 1.8 years in June 2014.

Maait said in a statement Thursday that debt life expectancy is targeted to reach 3.8 years by the end of June 2021.

He added that the Ministry of Finance had achieved better performance than the targets required within the economic reform program with the International Monetary Fund by the end of the first half of the current fiscal year, by achieving net bond issuances by about 88 percent against a target for the same period within the IMF program of 60 percent.