Foreign Debt
Specialists and government representatives have continued to discuss economic challenges on the third day of phase two of the National Dialogue, a platform to exchange perspectives on key political, economic, and social issues.
The Central Bank of Egypt (CBE) elaborated in a statement, that it paid about $1.5 billion in November, and $1 billion in December 2022.
In an interview with BBC News Arabic, Madbouli said Egypt even told the Ethiopian side of its desire to take part in the construction of GERD.
CBE said that Egypt's foreign debt registered $129.195 billion at the end of 2020, compared to $112.67 billion at the end of December 2019.
The country’s foreign reserves stood at $44.2 billion at the end of June, and climbed to $44.4 billion by end-August.
While Egypt’s foreign debt has almost doubled in five years to about $81 billion in the first quarter of the fiscal year 2017/18, up from $43 billion in the fiscal year 2011/12, experts agree that it was a lesser of two evils, but warn of its growth pace.
Egypt’s foreign debts reached $80 billion at the end of September 2017, up from the $79 billion recorded at the end of fiscal year 2016/2017.
The CBE disbursed $2 billion to the African bank earlier this week.
Egypt will receive within 48 hours the last $1.5 billion tranche of the World Bank (WB) development loan.
Egypt has never failed in repaying its foreign debts on time, Finance Minister Amr el-Garhy told Egypt Today Saturday.
Egypt repaid a $670 million six-month premium on the foreign debt owed to the Paris Club.
Foreign debt hiked $18 billion in nine months to reach $73.9 billion by the end of March of fiscal year 2016/17.
Egypt has paid back $700 million in the last week as a six-month installment on the foreign debt owed to the Paris Club, a senior banking official told Egypt Today on Tuesday.
Egypt is scheduled to pay back a $700 million six-month premium on the foreign debt owed to the Paris Club next week
Egypt’s foreign debt reached $71.8 billion at the end of February, Minister of Planning Hala El Said announced Thursday.
Egypt's total debt to Paris Club dropped $200 million 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.
Egypt will repay $11.2 billion worth of matured short-term foreign debt by the end of 2017, but some economists argue that it remains in safe boundaries
Egypt’s foreign debt soared to $67 billion by the end of December compared to 48 billion a year earlier.
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