Foreign debt obligations rise to USD 82.9 bn at end of December 2017

Egypt’s foreign debt obligations reached USD 82.9 bn at the end of December 2017, or around 36.1% of GDP, up from USD 67.3 bn at the end of December 2016, according to the central bank’s March statistical bulletin report. Egypt settled USD 8.6 bn of its debt service between July and December 2017. Government officials had previously said that Egypt’s foreign debt levels remain within a safe range, especially as the country plans to repay some USD 12 bn in dues this year, including USD 850 mn to international oil companies.