Cairo – Mubasher: Medium-and long-term liabilities account for around 85% of Egypt’s foreign debt, assistant sub-governor of the Central Bank of Egypt (CBE) Hany Genena said on Wednesday.
Egypt’s external debts amount to $12 billion in 2018, Genena told the local channel DMC TV, noting that short-term debts will be replaced with long-term debts, with better terms.
The North Africa nation's external debt includes 5-year, 10-year and 30-year dollar-denominated bonds, he continued.
He further noted that the International Monetary Fund (IMF) will disburse the second installment with 10-year maturity.
On Wednesday, the IMF has approved to pay Egypt the second installment of three-year $12 billion loan programme.
