Cairo – Mubasher: Egypt’s external debt retreated for the first time in four years, falling by 1.2% quarter-on-quarter (QoQ) during the first quarter (Q1) of 2020.
On a quarterly basis, the country’s external debt rose by 9.9% in Q1-19, 6.4% in Q1-18, 9.8% in Q1-17, and 11.8% in Q1-16, data released by the media centre of the cabinet showed on Sunday.
The ratio of short-term debt to total external debt reached 9.3% in Q1-20, 11.7% in Q1-19, 13% in Q1-18, 17.1% in Q1-17, and 12.8% in Q1-16.
In addition, the ratio of short-term debt to net international reserves amounted to 25.7% in Q1-20, 28.1% in Q1-19, 27% in Q1-18, 44.2% in Q1-17, and 41.3% in Q1-16.
