Cairo – Mubasher: Egypt has paid off a $250 million installment to settle a $1.5 billion loan to Libya, sub-governor markets sector at the Central Bank of Egypt (CBE) Rami Abulnaga told MENA news agency.
Egypt will pay two more installments of $500 million in 2018, Abulnaga highlighted.
Abulnaga had previously said that Egypt paid off about $17.5 billion of foreign debts this year.
In November 2016, the CBE raised interest rate by 300 points, in line with the liberalisation of the exchange rate.
Egypt’s external debt surged 41.6% year-on-year to $23.2 billion in fiscal year 2016/2017.
