Egypt is required to pay $29.23 billion in external debt service in 2024
The CBE also reported that in November, Egypt's net international reserves (NIR) increased by $72 million, reaching a total of $35.173 billion.
Earlier this month, the International Monetary Fund (IMF) hinted at the possibility of expanding Egypt's $3 billion loan program, with its communications director confirming ongoing discussions and emphasizing the critical need for additional funds in the wake of the conflict in Gaza.
“It is clear that additional financing will be critical to ensure the success in the implementation of the policy package for Egypt,” explained IMF Communications Director Julie Kozack during a press conference, underlining the potential impact of the conflict, especially on Egypt's tourism sector.
Kozack did not disclose further details, stating that “the exact size of the financing is part of the ongoing discussions" between the IMF and Egyptian authorities.
