Egypt repays $52bln in external debts over past 2 FYs: Maait

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Egypt has settled $52 billion of its foreign liabilities during the previous two fiscal years (FYs) 2022/2023 and 2021/2022, according to a statement.

Moreover, the country has paid $25.5 billion in debts during the first half of the current fiscal year until June 30th, Middle East News Agency reported on September 9th, citing Minister of Finance Mohamed Maait.

These settled amounts come in addition to short-term investment outflows of around $22 to $23 billion over the past years, the minister highlighted.

During a dialogue session organized by the Supreme Council for Media Regulations (SCMR) about Egypt hosting the meetings of the Asian Infrastructure Investment Bank (AIIB), Maait noted that the AIIB’s investment portfolio in Egypt worth $1.3 billion.

Egypt is preparing to host the eighth annual meeting of the AIIB in Sharm El-Sheikh on September 25th and 26th.