Egypt’s external debt hits $137.85bln end-June 2021

The long-term external debt recorded $124.12bln at the end of June 2021

  
Image for illustrative purpose. A man counts U.S dollars at a money exchange office in central Cairo, Egypt December 27, 2016. Picture taken December 27, 2016.

Image for illustrative purpose. A man counts U.S dollars at a money exchange office in central Cairo, Egypt December 27, 2016. Picture taken December 27, 2016.

REUTERS/Mohamed Abd El Ghany
 

Egypt’s external debt reached $137.85 billion at the end of June 2021, almost up by $3.02 billion from $134.84 billion at the end of March 2021, Al Borsa Newspaper reported, citing data issued by the Central Bank of Egypt (CBE).

The long-term external debt recorded $124.12 billion at the end of June 2021, representing 90% of Egypt’s total external debt.

This marks an increase from the long-term external debt in March 2021 of $121.579 billion.

Meanwhile, the country’s short-term external debt grew by nearly $454 million to $ 13.716 billion in June 2021 from $ 13.261 billion in March 2021.

It is worth noting that the CBE previously announced that Egypt’s balance of payment has recorded a surplus of $1.9 billion in fiscal year (FY) 2020/2021, versus a deficit of $8.6 billion in FY 2019/2020.

Foreign direct investments (FDI) in Egypt realized a net inflow of $5.2 billion in FY 2020/2021, versus $7.5 billion in the previous fiscal year.

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