Egypt\u2019s total external debt increased 17.47 percent at the end of September 2019, recording $109.363 billion, compared to $93.101 billion in September 2018, according to recent data issued by the World Bank.<\/p>\n
The data revealed that external debts due on Egypt hit $108.699 billion in June 2019.<\/p>\n
During the first nine months of 2019, Egypt\u2019s external debt jumped by around $12.6 billion, the data showed.<\/p>\n
According to the published data, the Egyptian Government allocated $58.86 billion for the state\u2019s foreign debt, while $27.648 billion went to the Central Bank of Egypt (CBE), $9.2 billion to banks operating in Egypt, and $13.6 billion to the rest of the sectors.<\/p>\n
As for the foreign liabilities owed by CBE, it fell 0.7 percent to $27.7 billion. The debt of the banking sector recorded $9.2 billion, retreating 3.2 percent. Likewise, the debt of other sectors decreased to $13.6 billion.<\/p>\n
The World Bank data estimated the volume of long-term debt, which is more than one year in maturity at about $98.3 billion, equivalent to 89.9 percent of the total external debt stock, and the remaining $1 billion is in short-term debt.<\/p>\n
Earlier, Governor of CBE Tarek Amer said in his speech at the International Finance Institute (IIF) that there are no risks from external debt, clarifying that long-term external debt varies between 10 to 59 years inmaturity, and a small percentage represents short-term debt which is for Arab countries and is renewed on an ongoing basis.<\/p>\n
The International Monetary Fund (IMF) predicted in a report in mid-October on its recent review of the Egyptian economy that the value of Egypt\u2019s external debt will rise in the next fiscal year to reach $109.7 billion, to rise to $111 billion during the fiscal year 21 \/ 2022; then declin to $109.4 billion in 22\/2023, to rise again in 23\/2024 to reach $112 billion.<\/p>\n
Egypt Today<\/p>\n","protected":false},"excerpt":{"rendered":"
Egypt\u2019s total external debt increased 17.47 percent at the end of September 2019, recording $109.363 billion, compared to $93.101 billion in September 2018, according to recent data issued by the World Bank. The data revealed that external debts due on Egypt hit $108.699 billion in June 2019. During the first nine months of 2019, Egypt\u2019s […]<\/p>\n","protected":false},"author":40,"featured_media":161060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7863],"tags":[12862,2484,7955,28884],"class_list":["post-161059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-section","tag-cbe","tag-egypt","tag-imf","tag-tarek-amer"],"yoast_head":"\n