The Central Bank of Egypt (CBE) has announced that the country settled USD 23.8 billion in foreign debt service over nine months, from July 2023 to March 2024. According to the report, Egypt paid USD 8.168 billion in the first quarter of the fiscal year 2023/2024, USD 7.384 billion in the second quarter, and USD 8.255 billion in the third quarter.

In addition to these payments, the CBE’s report highlighted a reduction in Egypt’s total external debt, which fell from USD 164.5 billion in September 2023 to USD 160.6 billion by March 2024. The report also noted a surge in foreign investments in local treasury bills, which reached the equivalent of EGP 1.765 trillion in June 2024, compared to EGP 388.421 billion in June 2023.

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