Financial and Banking News

BUDGETS AND REVENUES

Egyptian Debt Service Threatened by Oil Price Collapse 

Egypt's ability to service its foreign debt - estimated by the IMF at $32.5bn in June 1985 - is being severely hampered by the dramatic recent decline in the price of its oil exports, which has led to a warning by its Economy Minister, Dr. Sultan Abu 'Ali, that "there may be some delay in meeting our commitments, but there are many other countries also facing a similar...