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FinancialNews


  • 05-12-18

    Egypt plans to extend average debt maturity

    (MENAFN) Egypt set out a plan to extend its average maturity on its debt to make it reach 3.5 years, announced Deputy Finance Minister Ahmed Kouchouk.

    The newly lengthened debt maturity is to be affective by the end of June of the 2018-2019 fiscal year.

    The Egyptian minister pointed out that "the maturity of our debt has reached less than two years."

    The minister affirmed: "we are aiming to increase it to 3.5 years by the end of the current financial year, and then increase it to nearly 5 percent in the medium term."

    It comes as the country recorded by the end of June USD92.64 billion in its foreign debt, with USD10.51 billion needed for paying external debt.

    MENAFN0512201800450000ID1097788924

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