External Debt Rises

Giving More to Your Wealth
02 Jun 2021

Egypt’s external debt has risen by 3% QoQ to USD129bn in 2Q20/21. At the end of FY19/20, external debt sat at USD123bn. Currently, about 91% of this debt is long-term. Of this long-term debt, around 40% is owed to multilateral institutions such as the IMF and the IBRD, while bonds account for 21%. The general government remains the main debtor, representing around 60% of total external debt.

The increase in external debt was mainly a result of a rise in net disbursements of loans and facilities. Also, the depreciation of the USD versus debt denominated in other currencies increased the book value of that portion of the debt. The main borrowing currency for Egypt is the USD, representing 60% of total external debt.

Egypt’s debt to GDP ratio was 34% at the end of 2Q20/21, well below both Latin America and the Caribbean, as well as the Middle East and Central Asia. (Source: CBE (English), al-Ahram (English), Amwal al-Ghad (English))

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