By Egypt Today Staff
Cairo – October 15, 2024 – Egypt’s external debt has fallen to $152.9 billion as of June 2024, according to the Central Bank of Egypt (CBE). This marks a continued decline from $160.607 billion at the end of March and $168.034 billion in December 2023.
The CBE’s report detailed the composition of the debt, noting that long-term external debt decreased to $126.8 billion, down from $138.551 billion in December. Short-term debt also fell to $26.24 billion, compared to $29.482 billion.
Government debt declined to $80.178 billion by June, a reduction from $84.849 billion at the end of 2023. Additionally, the CBE’s external obligations decreased to $34.668 billion, down from $45.314 billion in December 2023. Bank debt rose slightly to $20.67 billion, up from $20.096 billion.
In September, the CBE reported that Egypt made $23.8 billion in external debt payments between July 2023 and March 2024. During the fiscal year 2023/2024, payments included $8.168 billion in the first quarter, $7.384 billion in the second quarter, and $8.255 billion in the third quarter.
The report also highlighted that Egypt’s total external debt was $160.6 billion as of March 2024, down from $164.5 billion in September 2023, reflecting ongoing efforts to manage and reduce the country’s debt levels.
