Cairo – Mubasher: Egypt paid off around $30 billion in foreign debt in 2017, an official source at the Central Bank of Egypt (CBE) told MENA on Tuesday.
The North African country is expected to pay off more than $12 billion of its debts in 2018, the source added.
Egypt has settled foreign debts in favour of international banks, including the African Export-Import Bank (AFREXIMBANK), in addition to bonds, deposits, and loans from Saudi Arabia, Libya, and Turkey, the source highlighted.
The source further noted that Egypt’s liabilities included government entities such as the Egyptian General Petroleum Corporation (EGPC), as well as Club de Paris.
In December 2017, assistant sub-governor of CBE Hany Genena last said that medium-and long-term foreign liabilities account for around 85% of Egypt’s foreign debt.
