Egypt pays $2.5B in foreign debt payments within 2 months
Egypt paid $2.5 billion of its foreign debt in two months, according to the state central bank.
The Central Bank of Egypt (CBE) elaborated in a statement, that it paid about $1.5 billion in November, and $1 billion in December 2022.
It stressed that despite these payments, Egypt's foreign exchange reserves rose to $34 billion at the end of December, compared to $33.53 billion in November, with a monthly increase of $470 million.
The CBE pointed out that the cash reserves increased during the last four months by more than $860 million.
Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan.