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Tuesday, 12 January 2021

External debt up 15% in 1Q FY2020-2021

Egypt’s total external debt rose 15% y-o-y in 1Q FY2020-2021 to more than USD 125 bn, up from almost USD 110 bn last year, new central bank figures showed yesterday. On a quarterly basis, debt increased 1.4% from USD 123.5 bn in 4Q2019-2020. Government external debt surged almost 25% y-o-y to USD 73.1 bn from USD 58.9 bn last year, accounting for 58.3% of the country’s total external debt.

WHO’S IN THE MARKET FOR DEBT-

  • Eight banks signed off on a EGP 3.2 bn syndicated loan for Al Marasem Development to develop its Fifth Square project in New Cairo.

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