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Egypt repays $2.1 bln of debt to foreign energy companies: oil minister

Reuters , Wednesday 31 Dec 2014
Egypt's Oil Minister Sherif Ismail (Photo: Reuters)

Egypt has paid $2.1 billion of its debt to foreign energy companies, leaving $3.1 billion still owed, Oil Minister Sherif Ismail said in a statement on Wednesday.

Egypt made earlier payments of $1.5 billion in December 2013, and $1.4 billion in October 2014, Ismail added.

Arrears to foreign energy companies have hampered investment in the sector.

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