CBE: $41.3bn decrease in external debt in December

The total foreign debt decreased 10.3 percent to $41.3bn at the end of December 2014, compared to $46.1bn in June 2014, according to the Central Bank of Egypt (CBE).

In a report released on Thursday, the bank attributed the drop in the external debt to the increase of the re-paid debts and the declining exchange rates of most currencies against the U.S. dollars.

The burdens of the external debt service (the medium and long term) hit $4.1bn during the period July-December 2014/2015, an increase of 2.5bn dollars, compared to a corresponding period a year earlier, it said.

The indications reveal a 12.3 percent decline in the balance of the external debt compared to the domestic debt at the end of December 2014 against 15.9 percent decline at the end of December 2013.