Cairo – Mubasher: Egypt’s minister of planning Hala El-Said on Thursday said that Egypt’s external debts reached $71.8 billion by the end of February, compared to $67.32 billion by the end of December.
External debts rose by $4.47 billion during January and February, El-Said added at a conference held after the Cabinet’s meeting.
In January, the Egyptian government issued international bonds worth $4 billion amid wide demand from the global financing institutions.
On 3 November, Egypt free floated the foreign exchange rate under the economic reform plan, and ahead of receiving the International Monetary Fund’s (IMF) loan of $12 billion.
Domestic public debt rose 23.3% year-on-year by the end of the first nine months of the current fiscal year 2016/2017, according to the Central Bank of Egypt’s (CBE) data.
