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The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Furthermore, Egypt’s external debt has increased steadily since 2015 and breached $100bn in Q1 of this year, the note explains.
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …
Focus Economics forecasts overnight deposit rate to end CY 2019 at 14.47%, CY 2020 at 12.93%
External debt up to $92.6bn in June 2018, $79.032bn in June 2017, an increase of $13.6bn
Egypt’s lack of control over foreign debt could cause negative pressure on its credit rating in future, says Standard & Poor’s
Unemployment rate should be reconsidered, Sherif Ismail says
The external debt rose to USD79 billion, or 42.7% of GDP in 4Q FY2016/17
Last Month, the foreign reserves came in USD 31.305 billion.
Hong Kong, Shenzhen, Singapore, Jebel Ali, Hamburg, Rotterdam, Tangier, and Panama are waterways that brought about major changes for their countries. However, the oldest waterway, the Suez Canal, has maintained its position as one of the world’s most important waterways since its opening on 17 November 1869. These other waterways around the world have managed …
Egypt’s negotiations for loans from the International Monetary Fund, World Bank, and the African Development Bank would increase the country’s external debt to approximately $70bn. Yet, the government views the loans as a way for reforming poor economic conditions that have plagued the country since 2011, and a tool to attract foreign investment. Essentially, …
Foreign exchange reserves dropped $2bn in July, reaching lowest point since January 2015
US dollar exchange rate expected to increase to EGP 10.19 by the end of 2017 and EGP 13.10 by the end of 2020, says FocusEconomics
The domestic public debt also increased to EGP 2.496tn as of the end of March, compared to EGP 2.016tn year-over-year.
Rate of increase in bank loans outstrips deposits for first time ever
Egypt repaid $670m to Paris Club in July, another payment of same amount is expected to follow in January
March’s figures compare to June 2014, where debt amounted to $46.1bn
CBE will pay final instalment of Qatari deposit of $1bn during October, says Ramez
Decrease due to repaying facilities and loans, as well as fall back on value of most currencies of borrowing versus US dollar
Ratio of external debt to GDP registers 16.4% compared to 17.3% YoY, the CBE said
Egypt’s external debt increased by 4.8% to record 45.3bn at the end of March 2014, compared to $43.2bn at the end of June 2013.
The Ministry of Finance in co-operation with the Central Bank have managed to allocate $318 million, which represents the value of public debt instalments owed by the government for bonds issued abroad in Egyptian pound in 2007. A high-ranking source in the Ministry of Finance has affirmed the government’s commitment to the settlement of all instalments owed at …
By Roddy Thomson / AFP BRUSSELS: European governments have opened the way for a radical offer of “debt relief” for Arab north African and Middle Eastern neighbors, EU and governmental sources told AFP late Wednesday. “Member states will examine possibilities of using debt relief as a signal of change” along the southern Mediterranean rim, conclusions drawn …