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Ahram Online: Egypt pays back $700 million in debt to Paris Club

In 2017, Egypt repaid around $30 billion in foreign debt.
10.01.18 | Interesting article at Ahram Online

The Central Bank of Egypt (CBE) paid back around $700 million in debt to the Paris Club this week, the CBE announced Tuesday.

The CBE had made another payment to the Paris Club worth another $700 million in July 2017.

Paris Club is an informal group of official creditors who provide debt treatment to countries undertaking economic reforms.

Egypt met its obligations to Paris Club creditors in 2017, a CBE source told state news agency MENA last week.

In 2017, Egypt repaid around $30 billion in foreign debt and is set to pay back over $12 billion in 2018, MENA reported last week.