The Central Bank of Egypt revealed that the volume of foreign debt owed to Egypt increased to about $112.67 billion at the end of December of 2019, compared to $96.61 billion at the end of December 2018, achieving a rise of 16.6 percent, or $16.1 billion on an annual basis.
The data of the Central bank showed an increase in the volume of external debt by 3.31 billion dollars during the last quarter of last year, and the acquisition of long-term debt on the proportion of 89.9% of the total Egyptian foreign debt, valued at about 101.4 billion dollars. The remaining $11.3 billion remains within the short-term foreign debt that is repaid within a year.
The government’s foreign debt accounted for the largest share, registering around $61.42 billion at the end of last year, compared to $48.07 billion at the end of 2018, an increase of $13.4 billion. Meanwhile, the foreign debt due from the central bank decreased on an annual basis to record $27.85 billion at the end of 2019, compared to $28.3 billion at the end of 2018.
Source (The New Arab Newspaper, Edited)