Egypt paid US$ 13.3 billion in interest and installments in 3 months: CBE
The Central Bank of Egypt (CBE) announced that Egypt has paid approximately US$13.354 billion in interest and installments on its external debt during the second quarter of fiscal year 2024/2025.
In its monthly statistical bulletin on Tuesday, the CBE added that debt service burdens are divided into $1.861 billion in interest paid and $11.492 billion in installments paid.
The CBE explained that Egypt's external debt declined by approximately $111 million during the second quarter of fiscal year 2024/2025, reaching $155.09 billion by the end of December 2024, compared to $155.20 billion by the end of September 2024.
The Central Bank's report indicated that foreign client investments in treasury bills rose to the equivalent of LE1.914 trillion by the end of March 2025, compared to LE1.741 trillion by the end of February, and approximately LE1.612 trillion by the end of 2024.
Private bank investments in treasury bills reached LE710.844 billion, compared to LE725.784 billion by the end of February.
The CBE explained that public sector bank investments reached LE469.917 billion by the end of March, compared to LE 515.601 billion by the end of February.
Specialized bank investments reached approximately LE111.777 billion by the end of March, compared to LE 101.807 billion by the end of February.
Investments by foreign bank branches reached approximately LE 59.300 billion by the end of March 2025, compared to LE 52.501 billion by the end of February 2025.
Banking expert Mohamed Abdel-Aal affirmed that Egypt has never backed down from fulfilling its obligations to pay interest and installments on its foreign debt over the past years, noting that the state's commitment to this issue reflects strong a political will and financial discipline in spite of global economic challenges.
Heexplained that Egypt's repayment of $13.354 billion during the second quarter of the 2024-2025 fiscal year sends a positive and reassuring message to international institutions and creditors, and enhances confidence in the Egyptian economy and its ability to withstand and recover.
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