Egypt’s level of external debt is not disturbing: Amer

Egypt’s  levels of external debt is un-disturbing and the Egyptian economy  has debt servicing ability, said Central Bank governor Tarek Amer  on Thursday.

He made these remarks during the 23rd  annual Arab Banking Conference 2017 that has begun on Thursday in Beirut  entitled” A Twinning Partnership: Reconstruction and Development”. It is also organised by the Union Of Arab Banks.

He added that the Central Bank of Egypt will keep managing the external debt that allows repayment through diversifying sources of funding, pointing out that the government  has not failed to pay any external debts or obligations so far.

Moreover, the volume of Egypt’s external debts register $79billion by the end of 16/2017 financial year while the foreign exchange reserves record $36.7 billion by the end of October 2017.