|18 January, 2020

Egypt’s external debt registers $109.36bln in September 2019

Long-term debt accounted for 89.9% of total external debt

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

REUTERS/Amr Abdallah Dalsh

Cairo – Mubasher: Egypt’s external debt increased by 17.47% year-on-year to $109.363 billion at the end of September 2019, according to data released by the World Bank.

The North African country’s external debt included $58.86 billion owed by the government, $9.2 billion owed by banks, and $13.6 billion owed by other sectors.

External debt owed by the Egyptian government went up by 2.7% during the three-month period ended 30 September 2019, compared to $57.3 billion in the year-ago period.

Long-term debt accounted for 89.9% of Egypt’s total external debt by the end of September, whereas short-term debt made up only 10.01%.

Source: Mubasher

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