The Central Bank of Egypt (CBE) has revealed that the country’s external debt reached $154.98bn in the first quarter (1Q) of fiscal year (FY) 2022/23, down from $155.708bn in 4Q 2021/22, a decrease of about $728m.
The CBE said on Tuesday that the volume of long-term external debt recorded $127.572bn in September 2022, compared to $129.089bn in June 2022, a decrease of $1.517bn. The short-term debt increased by $789m to $27.408bn in September 2022, compared to 26.619bn in June 2022.
According to the CBE, the external debt owed by the government amounted to $80.340bn in September 2022, compared to $82.275bn in March 2022, a decrease of $1.93bn.
The central bank said that these debts fall within the category of long-term debts, while no debts owed by the government appeared in the short term.
It added that the volume of foreign debt owed by the CBE reached about $41.145bn in September 2022, compared to $40.881bn in June, an increase of about $264m.
Egypt’s debt consists of $25.42bn long-term debt and $15.724bn short-term debt.
The CBE indicated that the debt owed by banks amounted to $18.297bn in September, compared to $17.714bn in June, an increase of $583m. Of this amount $11.365bn are long-term, and $6.932bn are short-term.
According to the CBE, there are debts owed by other sectors, which he did not mention, that amounted to about $15.196bn in September 2022, up from $14.837bn in June 2022, up by about $359m. This includes $10.445bn in long-term debt and $4.750bn in short-term debt.