He acknowledged the significant challenge this posed for the state but reaffirmed Egypt's unwavering commitment to honoring its financial obligations, emphasizing that the country has never defaulted on its debts.
Despite the substantial debt service, the CBE reported a decline in Egypt's total external debt. As of March 2024, the debt stood at $160.6 billion, down from $164.5 billion in September 2023.
Egypt's external debt decreased to roughly $164.52 billion by the end of September 2023, in contrast to about $164.73 billion at the conclusion of June 2023.
