External debt in Egypt grows by 9.7pct to USD73.88bn

01 Aug 2017

(MENAFN) Egypt’s external debt increased 9.7 percent from Dec last year, to March this year, as exposed a report of the Central Bank of Egypt.

Moreover, the debt amount grew to USD73.88bn amid the third quarter of 2016/2017 ended in March 2017, from USD67.332bn in the second quarter of 2016/2017.

The country’s central bank received USD1.25bn worth of the second and final disbursal of the first USD4bn tranche of an USD12bn loan from the IMF.

Additionally, Egypt inked a three-year USD12bn IMF program in Nov linked to sweeping reforms like subsidiary cuts and tax hikes aimed at attracting investment to its economy.



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