Egypt settles $24bln external debts in 2022

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The amounts were paid off to settle loans and sue Eurobonds, which shows Egypt’s commitment to settle all dues in time

Staff Writer, Arab Finance

June 10, 2022

PHOTO

Egypt has settled debts of around $24 billion since the beginning of 2022, including $10 billion as external debts in external debts and $14 billion for foreign funds, the Middle East News Agency (MENA) reported on June 9th, citing data by the Central Bank of Egypt (CBE).

The amounts were paid off to settle loans and sue Eurobonds, which shows Egypt’s commitment to settle all dues in time.

On June 6th, the CBE announced that its net international reserves (NIR) declined by 4.38% month-on-month (MoM) at the end of May to $35.495 billion due to the $2 billion external debt repayments carried out in May

The external debt repayments included the payment of Egyptian Eurobond coupons issued by the Ministry of Finance, along with principal and interest payments to the International Monetary Fund (IMF).

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