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Monday, 20 November 2017

Egypt pays off last installment of 2012 loan from Turkey

Ahram Online , Thursday 2 Nov 2017
CBE governor Tarek Amer (AFP)
CBE governor Tarek Amer (AFP)
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Egypt has paid off the final installment, worth $200 million, of a loan borrowed from Turkey in 2012, said an Egyptian central bank official on Thursday.

Central bank deputy-governor Rami Aboul-Naga told Egyptian official news agency MENA the $1 billion loan was taken out under ex-president Mohamed Morsi in 2012.

Aboul-Naga stressed that Egypt had paid all the loan installments on time, saying the country's financial obligations have been fulfilled with no delays.

Two months ago, central bank governor Tarek Amer revealed that Egypt had paid $17 billion worth of foreign debts since floating its currency in November 2016. Amer also said Egypt would pay $8 billion more this year. 

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