The National Bank of Egypt (NBE) will defer EGP5bn of debt payment installments for clients operating in Egypt's tourism sector, according to Yehia Abul-Fotouh, Chairman of the Debt Processing department of the NBE.
This decision was based on a (...)
Foreign debt has increased $5bn year on year from $33.4bn to $38.4bn by the end of Q3 2013/2014, while year on year increases of debt as a percentage of GDP increased from 13.1% to 14.7% during this time.
Short term debt represents 17.7% of Egypt's (...)
For many, the long term costs of Egyptian government debt were not forgotten amidst the widespread protests and celebrations seen after the ouster of former president Mohamad Morsi, with the total value of the first batch of government bills (...)
