Arab World’s foreign debt reaches $156 billion
Egypt’s National Planning Institute (NPI) estimates the value of the Arab World’s total debt at $156 billion. Algeria holds the highest debt of $37.5 billion in the region followed by Egypt with $28.5 billion in foreign debts, reported Al-Hayat. Morocco has foreign debts of $17.5 billion, Sudan with $16.9 billion, Tunisia with $11.6 billion, Jordan with $7.3 billion and Yemen with five billion dollars in debts.
Between 1985 and 1994, the Arab World’s foreign debt increased from $116 to $156 billion; the real level of foreign debt is probably close to $250 billion, given the tendency of many Arab governments to camouflage outstanding balances. Annual Arab foreign debt service payments increased in that period from $10.3 to $12.6 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)