Egypt repaid around $30 bln in foreign debt in 2017 - state news agency quoting cbank source

Newspaper Title:

Newspaper Number:

Tuesday - 2 January 2018


CAIRO, Jan 2 (Reuters) - Egypt repaid around $30 billion dollars in foreign debt in 2017 and expects to pay off more than $12 billion of its debts in 2018, state news agency MENA said on Tuesday citing a source in the central bank.

The debt stood at $79 billion at the end of the 2016/17 fiscal year.

Egypt’s foreign reserves were $36.723 billion at the end of November, having climbed steadily since it secured a $12 billion, three-year, International Monetary Fund loan last year as it tries to lure back foreign investors and revive its ailing economy. (Reporting by Mostafa Hashem; Writing by Nadine Awadalla; Editing by Matthew Mpoke Bigg)