Monday June 24th, 2024
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Egypt Required to Pay USD 29 Billion in External Debt in 2024

As of March 2023, Egypt's total external debt stood at USD 165.36 billion.

Cairo Scene

Egypt Required to Pay USD 29 Billion in External Debt in 2024

According to the Central Bank of Egypt (CBE), Egypt is expected to pay USD 29.23 billion in 2024, with USD 14.59 billion due in the first half of the year and USD 14.63 billion in the second half.

In 2025, Egypt's debt service is projected to amount to USD 19.43 billion, with USD 11.15 billion to be paid in the first half and USD 8.28 billion in the second half. The trend continues into 2026, with a debt service of USD 22.94 billion, split almost equally between the two halves of the year.

The CBE also revealed that Egypt's debt service is expected to decline in 2027 and 2028, with payments of USD 12.11 billion and USD 7.5 billion, respectively.

As of March 2023, Egypt's total external debt stood at USD 165.36 billion. Notably, the country's foreign asset deficit reached approximately USD 25.92 billion in August. In an effort to boost its financial position, Egypt aims to generate USD 191 billion in annual US dollar revenues by 2026.

Meanwhile, Egypt's USD 3 billion loan agreement with the International Monetary Fund (IMF) is currently under review. However, completion of the first review, originally scheduled for March 15th, has faced challenges and remains unresolved.

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