Cairo - Mubasher: Egyptian minister of finance Amr El Garhy ruled out an impact on the country’s foreign exchange reserves from paying installments for international loans.
The Ministry of Finance (MoF) is dealing with the loan repayments according to a clear plan in order to meet the dates of the installments, El Garhy said in a statement on Tuesday, noting that Egypt has always met its deadline commitments.
Investments in foreign debt instruments amounted to $17.6 billion, the minister indicated.
El Garhy also revealed that the total public budget deficit for fiscal year 2016/2017 declined to 10.9% from 12.5%.
The MoF has obtained an initial approval from the Cabinet for the next issue of international debt instruments in November, the statement added.
