VOL. XLIII

No. 18

1-May-2000

EGYPT

Egypts Foreign Debt Stands At $26.2Bn

Egypts Minister of State Planning and International Cooperation Ahmad al-Darsh has stated that the countrys foreign debt currently stands at $26.2bn, according to the Middle East News Agency (MENA). Dr Darsh said that Egypt had reduced its foreign debt, which in the late 1980s stood at $40bn, by 50% over the past 10 years due to the governments policy of limited borrowing and its commitment to regular repayments.

He also...