Egypt Economy Foreign Debt Jumps 40% To $76 Billion In December 2016

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Published Apr 7, 2017

Egypt's Central Bank expects foreign reserves to have reached a high of $28.5 B by the end of this month.This will be the highest since the 2011 revolution. Foreign reserves had dropped by more than two thirds due to the fallout of the 2011 uprising and the political instability that followed. But besides the rosy picture are other disturbing numbers; debt has risen from $67 B to $76 B in one year alone and the government has to pay $11.9 B to debtors this year risking the gains made so far.