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Sunday, 13 June 2021

Egypt's domestic debt climbs 8%, foreign debt 18% in Q1 of FY2019/20

Ahram Online , Tuesday 28 Jan 2020

Egypt's domestic debt rose by 8 percent to $270 billion year-on-year in the first quarter of the current fiscal year, central bank data showed.

External debt, meanwhile, increased by18 percent to $109.362 billion in the July-September quarter of the 2019/2020 fiscal year, the data showed, according to Reuters.

Egypt is working to lure more investors and lengthen the maturities of its debt amid improved economic growth rates as the country completed a three-year economic reform programme tied to a November 2016 IMF loan deal.

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