Egypt’s foreign debt up 42 pct to $79 bln
The Central Bank of Egypt in Cairo.
:: Egypt’s foreign debt rose to $79 billion in the 2016-17 fiscal year which ended in June, up 42 percent from 2015-16, the central bank said.
The cash-strapped country has been borrowing from abroad to fund its budget deficit and boost its balance of foreign reserves after a years-long dollar shortage sapped its ability to import and slowed economic activity.
“Foreign debt is within the safe amounts as per international standards,” the bank said in a report that came out late on Thursday.
.::. Stories You May Like to Read .::.
Egypt’s central bank hikes key interest rates by 200 basis points
Egypt’s Sisi says calls to protest ‘no reason for concern’
Egypt hands life sentence to Egyptian plane hijacker
Sudan’s PM Hamdok meets with Egyptian president in Cairo
Libya intercepts nearly 200 Europe-bound migrants at sea
Libya, Algeria slam Turkey over arms shipment
Egypt hands Muslim Brotherhood leader another life sentence
Egypt court upholds three-year prison sentence for ex-president
Egypt security forces kill 11 suspected extremists in Sinai
Report: Son of ISIS leader Baghdadi killed in Syria’s Homs
Loading ...
You must be logged in to post a comment.