{"id":653318,"date":"2024-10-15T00:00:00","date_gmt":"2024-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/"},"modified":"2024-10-15T00:00:00","modified_gmt":"2024-10-15T00:00:00","slug":"egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/","title":{"rendered":"Egypt\u2019s foreign debt fell to USD 153 bn at the end of June"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Foreign debt inches down during 2H FY 2023-2024: <\/strong>Egypt\u2019s foreign debt sat at USD 152.9 bn during the end of the last fiscal year, falling some USD 15.1 bn \u2014 almost 9% \u2014 compared to the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08635509-14e7-47aa-a1f3-0c9d54bc0dd0\/egypt%25e2%2580%2599s-foreign-debt-rose-usd-3.3-bn-in-1h-fy-2023-24\" style=\"\" rel=\"noopener\">USD 168 bn<\/a> recorded at the end of first half of the fiscal year, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/10\/1137.JPG\" style=\"\" rel=\"noopener\">central bank data<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A continuous downtrend: <\/strong>Egypt\u2019s external debt dropped to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd62e06e-66fe-4707-8f94-6c6f8ab1fe41\/egypt%25e2%2580%2599s-external-debt-fell-8%2525-between-december-and-may\" style=\"\" rel=\"noopener\">USD 153.9 bn at<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd62e06e-66fe-4707-8f94-6c6f8ab1fe41\/egypt%25e2%2580%2599s-external-debt-fell-8%2525-between-december-and-may\" style=\"\" rel=\"noopener\">the end of May<\/a>, down by USD 14.2 bn \u2014 or 8.4% \u2014 from its level at the end of December 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> Medium- and long-term debt accounted for some 83% of our total foreign debt, sitting at USD 126.9 bn, while short-term debt made up about 17%, reaching some USD 26 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The bigger picture: <\/strong>External debt fell USD 11.8 bn during FY 2023-2024 from the USD 164.7 bn recorded at the end of the fiscal year 2022-2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Thanks to the Ras El Hekma agreement<\/strong>, which helped pave the way for the central bank to float the EGP, which triggered a resurgence of FX inflows in debt investment and remittances from Egyptians abroad. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s external debt has quadrupled over the past decade,<\/strong> reaching a record high of USD 168 bn at the end of 2Q of the fiscal year 2023-2024 due to increased borrowing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medium- and long-term debt accounted for some 83% of our total foreign debt<\/p>\n","protected":false},"author":1,"featured_media":653319,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[271,7106,104,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-central-bank-of-egypt","tag-debt","tag-economy","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"5b84a0b2-3c84-43ae-85db-ca5f5ccf327b","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1150.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s foreign debt fell to USD 153 bn at the end of June","related_issue":[653313],"teaser":"Medium- and long-term debt accounted for some 83% of our total foreign debt","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.1e7910e0-72ff-4da8-a383-c0258ef1a523.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>Egypt\u2019s foreign debt fell to USD 153 bn at the end of June - 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\/2024\/10\/15\/egypts-foreign-debt-fell-to-usd-153-bn-at-the-end-of-june\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s foreign debt fell to USD 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debt will be repaid this year","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/710.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":676824,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/07\/external-debt-rises-to-usd-161-bn-in-fy-2024-25\/","url_meta":{"origin":653318,"position":1},"title":"External debt rises to USD 161 bn in FY 2024-25","author":"enterpriseam admin","date":"7 December 2025","format":false,"excerpt":"External debt service climbed to USD 38.7 bn during FY 2024-25","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2177.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":633922,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/23\/our-external-debt-fell-8-between-december-and-may\/","url_meta":{"origin":653318,"position":2},"title":"Our external debt fell 8% between December and May","author":"enterpriseam admin","date":"23 July 2024","format":false,"excerpt":"External debt dropped to USD 153.9 bn at the end of May","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623314,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/28\/egypt-caps-foreign-borrowing-in-fy2018-19-at-usd-16-7-bn\/","url_meta":{"origin":653318,"position":3},"title":"Egypt caps foreign borrowing in FY2018-19 at USD 16.7 bn","author":"enterpriseam admin","date":"28 October 2018","format":false,"excerpt":"** #1 Egypt caps foreign borrowing at USD 16.7 bn this fiscal year: The government has apparently set a foreign borrowing cap of USD 16.733 bn for FY2018-19, according to a government document obtained by Reuters on Thursday. Egypt will have to borrow USD 10.51 bn this fiscal year to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":611121,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/we-have-a-lot-of-foreign-debt-to-repay-next-year\/","url_meta":{"origin":653318,"position":4},"title":"We have a lot of foreign debt to repay next year","author":"enterpriseam admin","date":"3 December 2023","format":false,"excerpt":"That\u2019s more than a quarter of the country\u2019s total external debt","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/28.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":661547,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/02\/the-lowdown-on-egypts-external-debt-obligations-in-2025\/","url_meta":{"origin":653318,"position":5},"title":"The lowdown on Egypt\u2019s external debt obligations in 2025","author":"enterpriseam admin","date":"2 March 2025","format":false,"excerpt":"Egypt\u2019s external obligations are estimated to be around USD 55 bn between 2025 and the end of 2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=653318"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/653318\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/653313"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/653319"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=653318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=653318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=653318"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=653318"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=653318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}