Egypt’s external debt drops 1.3% QoQ in Q4 FY 2021/2022

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Egypt’s total external debt fell by 1.32% quarter-on-quarter (QoQ) during the fourth quarter (Q4) of fiscal year (FY) 2021/2022, according to recently published data by the Central Bank of Egypt (CBE).

The country’s external debt dropped to $155.708 billion at the end of Q4 FY 2021/2022 from $157.801 billion at the end of Q3 FY 2021/2022, data showed.

Year-on-year (YoY), total external debt climbed by 12.94% in Q4 FY 2021/2022, from $137.859 billion in Q4 FY 2020/2021, data added.

Total long-term debt fell to $129.089 billion in Q4 FY 2021/2022 from $131.359 billion in Q3, while total short-term debt increased to $26.619 billion at the end of June from $26.441 billion in the same quarter a FY earlier, as per the CBE’s data.

External debt owed by the government declined to $82.275 billion at the end of June from $83.171 billion at the end of March, while the CBE’s external debt narrowed down to $40.881 billion in Q4 FY 2021/2022 from $41.861 billion in the previous quarter.

On the other hand, external debt owed by banks stood at $17.714 billion in Q4 FY 2021/2022, rising from $17.425 billion in Q3 FY 2021/2022.