Egypt’s external debt at the end of the second quarter ending in June was about $152.9 billion, down from $160.6 billion at the end of the first quarter, after reaching its peak of $168 billion at the end of December 2023.
According to Central Bank data, the external debt is mostly long-term, amounting to about $126.9 billion, while the value of short-term debt is about $26 billion.
Egypt’s financial situation received a boost in late February, when it signed an agreement with the UAE to develop the Ras El Hekma city project overlooking the Mediterranean Sea in a deal worth $35 billion, which included transferring Emirati deposits with the Central Bank of Egypt worth $11 billion to investments in Egypt, thus… Deducted from the total external debt.
And I fell Egypt In March, an eight-billion-dollar support package with the International Monetary Fund pledged to maintain exchange rate flexibility. The Fund disbursed to Egypt two tranches worth $820 million each in March and August, while the remaining tranches will be disbursed in semi-annual installments until September 2026.
