Financial and Banking News


Egypt Hopeful about New IMF Credit Facility 

According to the Governor of the Central Bank of Egypt, Mr. 'Ali Negm, the country's debt servicing requirement in fiscal 1986-87 is estimated at $3.5bn and its total foreign debt currently stands at $25bn. A higher figure of $38.6bn was recently estimated by the IMF, with $33.8bn in military debt and the balance of $4.8bn in short-term credits. Egypt is currently seeking to negotiate...