{"id":591008,"date":"2023-07-30T00:00:00","date_gmt":"2023-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/external-debt-rises-to-usd-165-4-bn-in-3q-2022-23\/"},"modified":"2023-07-30T00:00:00","modified_gmt":"2023-07-30T00:00:00","slug":"external-debt-rises-to-usd-165-4-bn-in-3q-2022-23","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/external-debt-rises-to-usd-165-4-bn-in-3q-2022-23\/","title":{"rendered":"External debt rises to USD 165.4 bn in 3Q 2022-23"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> Egypt\u2019s external debt climbed 1.5% to USD 165.4 bn in 3Q FY 2022-2023, up from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/77fcc938-daed-43c9-936f-07e4f0536e1c\" style=\"\">USD 162.9 bn<\/a> in the previous quarter, according to central bank data published last week. This is almost 5% up from the same quarter last year when external borrowing clocked in at USD 157.8 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s external position has come under pressure <\/strong>on the back of a stronger USD, higher interest rates, and turmoil in the financial markets. The EGP has lost more than half of its value against the USD since last year. Egypt\u2019s external debt has quadrupled over the past decade as the country has ramped up borrowing from multilateral lenders and the international debt markets. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Policy makers are trying to slow the increase: <\/strong>Planning Minister Hala El Said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9607ec71-47a7-4ad2-83f8-0928a0925dd4\" style=\"\">said in June<\/a> that the government will only take on soft foreign-currency loans to use for its long-term development objectives. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>External borrowing rose almost 5% y-o-y during the quarter<\/p>\n","protected":false},"author":1,"featured_media":591009,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[88,104,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-debt-watch","tag-economy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"450c2cb7-4819-4598-a61f-cb17259fbe7b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/1174.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s external debt notches new record high in 3Q 2022-23","related_issue":[590991],"teaser":"External borrowing rose almost 5% y-o-y during the quarter","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.ddbbd732-048e-4232-b605-ef9b063eec0c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>External debt rises to USD 165.4 bn in 3Q 2022-23 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/external-debt-rises-to-usd-165-4-bn-in-3q-2022-23\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"External debt rises to USD 165.4 bn in 3Q 2022-23\" \/>\n<meta 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