Financial and Banking News


Egypt Concludes First Paris Club Rescheduling

Egypt and France last week reached agreement to reschedule about FF10bn ($1.65bn) worth of Egyptian debt to French official agencies. This is the first bilateral rescheduling agreement concluded under the terms of Egypt's four-month old Economic Standby Program which was agreed with the International Monetary Fund (IMF) in May (MEES, 25 May). Egypt's total debt to France (including military...