Egypt’s long-term external debt increased in 2019 to USD 90.6 bn- up from the USD 80.6 bn recorded in 2018 – with USD90.3 bn of this debt acquired by the public sector, according to the World Bank’s international dept statistics report 2021, Ahram Online reports.
Egypt’s short-term external debt also rose to USD 11.2 bn in 2019, up from USD 10.3 bn in 2018, according to state-run Al Ahram.
Egypt’s disbursements over the long term fell to USD13.3 bin, down from USD 20.2 bn in 2018, with USD 15.2 bn constituted by the public sector, as stated in the report.
For the Middle East and North Africa (MENA), the report disclosed that the region’s external debt jumped to USD 340 bn in 2019, up from USD 323 bn in 2018, making it the highest since 2009.
Moreover, the debt burden of the least developed countries continues to climb, recording USD 744 bn in 2019.
The report also unveiled that net financial – including debt and equity – flows to low- and middle-income countries decreased to USD 0.9 tn in 2019, 14 %below the 2018 level while registering the second consecutive year of decline.