The Central Bank of Egypt (CBE) revealed on Tuesday that the external debt service payments amounted to $26.3bn during fiscal year (FY) 2021/22.

According to the monthly bulletin of the Central Bank, the due instalments during the last fiscal year amounted to about $21.7bn, while the volume of interest amounted to about $4.570bn.

The Central Bank said that the total external debt recorded about $155.708bn in June 2022, up from about $137.859bn in June 2021, an increase of about $17.8bn or 12.9%.

According to the Central Bank, the ratio of the external debt balance to the gross domestic product amounted to about 32.5% by the end of June 2022, stressing that it is within the safe limits according to international standards.

The Central Bank had indicated, in a previous report, that the volume of long-term external debt amounted to $129.089bn by the end of June 2022, while the volume of short-term debt amounted to $26.619bn.

According to the Central Bank, the external debt owed by the government was recorded at $82.275bn by the end of June 2022, pointing out that these debts fall within the category of long-term debt, while no debts owed by the government appeared in the short term.

It added that the volume of external debts owed by the Central Bank amounted to about $40.881bn at the end of June, while the volume of debts owed by banks amounted to $17.714bn.

The central bank indicated that there are debts owed by other sectors, which it did not mention, which amounted to about $14.837bn in June.

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