Central Bank expounds Egypt’s external debt in 1Q 2022

Egypt’s external debt registered $157.8bn in March 2022, up by about $19.9bn, compared to June 2021. Despite the rise in net disbursements of loans and facilities by $22.2bn, the depreciation of the other currencies comprising the external debt exchange rate vis-à-vis the US dollar led to a decrease of $2.3bn in book value.

Breakdown by Maturity

By original maturity, external debt reaffirmed its pattern of long-term debt predominance in March 2022. Long-term debt accounted for $131.4bn or 83.3% of the total external debt, whereas short-term debt accounted for $26.4bn or 16.7%.

By residual maturity, short-term debt amounted to about $42.2bn in March 2022. Meanwhile, long-term debt reached about $115.6bn.

Breakdown by Type

Long-term external debt registered $131.4bn (83.3% of total external debt) in March 2022, up by about $7.2bn compared to end of June 2021; of which:

Buyers’ and suppliers’ credit reached about $16.6bn, up by $3.8bn.

Multilateral institutions’ debt reached about $52bn, up by $2.1bn, as compared to June 2021.

Bonds issued abroad (non-resident holdings) reached $29.4bn, up by $660.9m.