CBE: Egypt Paid $11.9 Billion in Foreign Debt within 6 Months

Egypt paid foreign debt installments, and interest rate (cost of debt) of about $11.9 billion during the period from June/December, according to data issued by the Central Bank of Egypt.

The balance of Egypt's external debt, according to recent data issued by the CBE, amounted to about $162.9 billion until the end of December 2022. 

The external debt increased by about $7.2 billion, with a growth rate of 4.6% compared to the end of June 2022.

Finance Minister Mohamed Maait said in previous press statements that Egypt is committed to paying financial obligations on time and was never late, pointing to the significant increase in Egyptian exports of natural gas in addition to the increase in non-oil exports.

CBE paid about $7.154 billion by the end of Q2 2022/23, representing installments and interests for outstanding debts.