Egypt's Foreign Debt Soars to $88.2 Billion

Published August 7th, 2018 - 10:38 GMT
Egypt’s foreign reserves were $44.315 billion at the end of July, having climbed steadily since the securing of a $12 billion. (Shutterstock)
Egypt’s foreign reserves were $44.315 billion at the end of July, having climbed steadily since the securing of a $12 billion. (Shutterstock)

The Central Bank Egypt (CBE) has announced that the foreign debt rose to $88.2 billion from $73.9 billion in Q3 2017-2018 fiscal year, compared to same period last year, reported Reuters.

Egypt’s foreign reserves were $44.315 billion at the end of July, having climbed steadily since the securing of a $12 billion, three-year International Monetary Fund loan in 2016.

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