Egypt external debt hits $996.4 per person

The external debt per capita of Egypt is estimated at $996.4 at the end of March, according to the central bank’s monthly report.

External debt surged 14.7 percent to around $106.2 billion at the end of March, an average of 36.9 percent of GDP.

The central bank report said the country’s external debt levels is well “within the safe range.”

External debt jumped 20.9 percent year-on-year from $88.2 billion in March 2018, according to the World Bank’s data released earlier this month.

Egypt received earlier this month the final $2 billion tranche of the International Monetary Fund’s $12 billion, three-year loan programme, which was signed in late 2016.