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FinancialNews


  • 09-05-19

    Egypt hits USD96.6b in foreign debt

    (MENAFN) Egypt recorded a 16.5 percent boost in its foreign debt for 2018 compared to a year earlier, standing at USD96.6 billion.

    In a statement, the Central Bank of Egypt (CBE) revealed that "the foreign debt increased by 13.7 billion dollars in 2018, or 16.5 percent, compared with the previous year."

    CBE confirmed that it was able to achieve over USD36 million of foreign debts and liabilities repayments over the last three years.

    This comes while Egypt was suffering from deteriorating economic condition as a result of the 2011 uprising which ousted former President Hosni Mubarak.

    MENAFN0905201900450000ID1098499409

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