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Wednesday, 3 January 2018

Egypt to repay USD 12 bn in foreign debt this year

Egypt repaid USD 30 bn in foreign currency debt in 2017 and is set to pay off more than USD 12 bn more in 2018, MENA said, as per Reuters. Egypt’s debts stood at USD 79 bn at the end of FY 2016-17, the report notes. The central bank had said it closed 2017 by paying over USD 2 bn in debts to AfreximBank and other international creditors, and is set to pay USD 700 mn to Paris Club debtors this month.

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