Last Update 18:10
Friday, 28 July 2017

Egypt's foreign debt jumps 40 percent to $67 billion: Central bank

Reuters , Sunday 2 Apr 2017
 Central bank
File Photo: Egypt Central Bank governor Tarek Amer (Reuters)
Share/Bookmark
Views: 5172
Share/Bookmark
Views: 5172

Egypt's foreign debt jumped 40.8 percent year-on-year to $67.32 billion in December, Central Bank figures showed.

Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy hit by political upheaval since a 2011 revolt, and to ease a dollar shortage that has crippled imports and drove away foreign investors.

Egypt has received the first tranche of a three-year $12 billion loan deal with the IMF and is expecting to receive the second tranche soon. The second tranche of a $3 billion loan from the World Bank was disbursed to Egypt last month.

The central bank said domestic debt rose 28.9 percent to $3.05 billion.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.