Gov't considers restructuring railway authority’s EGP 250 bn debt pile

Officials are looking at ways to restructure EGP 250 bn in debt owed by the troubled Egyptian Railway Authority (ERA), Ittihadiya said in a statement. The authority currently owes EGP 100 bn to the central bank and EGP 150 bn in government loans. The ERA is projected to record nearly EGP 10 bn in operating losses this fiscal year alone and is expected to only make a third of the EGP 14.9 bn it needs to cover its operating costs.