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Egypt repaid $25bn of debt in two years: CBE.

Egypt has repaid about $25bn in debts and interest over the past two years from the end of March 2017 to the end of March 2019, the Central Bank of Egypt (CBE) announced on Wednesday.

The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.

It pointed out that during the first quarter of 2019, Egypt repaid $3.04bn, including $2.1bn of interest on paid loans and $946.6m of interest on the debt.

An official source at the CBE said earlier that Egypt has paid about $36.7bn of debt since the revolution of 30 June 2013.

The International Monetary Fund predicted that Egypt's external debt would fall to $88bn by 2022, supported by reaping the benefits of the economic reform programme.

CBE Governor Tarek Amer said in a statement that Egypt is committed to repaying all obligations and debts on time.

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Publication:Daily News Egypt (Egypt)
Geographic Code:7EGYP
Date:Aug 28, 2019
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