Egypt Watch

Egypt owes $14.5 billion of debt in next 6 months

August 1, 2019

Egypt has to repay $12.7 billion in premiums and $1.8 billion in interest during the second half of 2019, the Central Bank of Egypt (CBE) said on Tuesday.

The debt is divided into $1.48 billion for Paris Club members, $1.69 billion for various international institutions, $387.36 million in interest payments on Eurobonds, and $2.07 billion in deposits owed to Kuwait.

There are also $5.25 billion in deposits owed to Saudi Arabia, $78.2 million in deposits owed to the UAE, $28.1 million in interest on government bonds issued in 2010 and $3.5 billion in short-term debt.

On May 22 2019 the Central Bank of Egypt announced that the country’s total domestic debt increased by 20.25 per cent to to EGP 4.108 trillion ($248.28 million) at the end of December. The country’s external debt grew 16.6 per cent year-on-year to about $96.6 billion.