Egypt’s external debt registered $137.4bn in September 2021, down by about $439.5m, compared to end-June 2021, according to the Central Bank of Egypt.
Despite the rise in net disbursements of loans and facilities by $366.7m, the depreciation of the US dollar exchange rate vis-à-vis other currencies comprising the external debt, led to a decrease of $806.2m in book value.
By original maturity, external debt reaffirmed its pattern of long-term debt predominance in September 2021. Long-term debt accounted for $125.9bn, or 91.6% of the total external debt, whereas short term debt accounted for $11.5bn or 8.4%.
By residual maturity , short-term debt accounted for 22.1% of total external debt inSeptember 2021, compared to 8.4% classified by original maturity.
Meanwhile, long- term debt expressed in terms of residual maturity made up 77.9% of total external debt, in comparison to 91.6% based on original maturity.
Long-term external debt registered $125.9bn (91.6% of total external debt) in September 2021, up by about $1.8bn compared to June 2021; of which:
Multilateral institutions’ debt reached about $52.7bn, up by $2.7bn, as compared to end of June 2021. The increase reflected new loans; mainly from the IMF ($24.1bn classified as follows: $11.9bn representing Extended Fund Facility $2.9bn representing Rapid Financing Instrument (RFI), $5.3bn representing three tranches of Stand-by Arrangement (SBA), and $4.0bn representing SDR allocations).
This is besides the loans from the International Bank for Reconstruction and Development (IBRD) ($11.6bn), the European Investment Bank (EIB) ($5.4bn), and Arab Fund for Economic & Social Development ($2.1bn).
Bonds issued abroad (non-resident holdings) reached $31.6bn, up by $2.9bn.
Bonds outstanding stock as of September 2021 includes: roughly $26.1bn of Eurobonds issued in US dollar, about $737.2m of Green bonds issued in US dollar, about $4.4bn of Eurobonds denominated in euro; and about $355.4m of sovereign notes.
