Egypt’s external debt decreases by $14 billion in 5 months ...Egypt

Egypt’s external debt has decreased to $153.9 billion at the end of May 2024, compared to $168 billion at the end of last year, according to an official statement quoting an anonymous central bank official. Egypt received $35 billion in Emirati support in March through the “Rass Al-Hikma” deal, including an $11 billion deposit with the Central Bank that was converted into investments. The statement indicated that the decrease of $14 billion over a period of 5 months is the largest decrease in the country’s external debt history. In parallel, the Central Bank’s net foreign reserves reached an all-time high of $46.4 billion in June 2024, an increase of $13.25 billion since August 2022, accordi

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