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Egypt's short-term dollar debt drops to $14 billion, finance ministry

Sunday 03 February 2019 10:30 PM

Ministry of Finance
Ministry of Finance

(Reuters) - Egypt’s short-term dollar-denominated debt fell $3.25 billion to about $14 billion by the end of 2018, the deputy finance minister said on Sunday.

Egypt has borrowed heavily from abroad after adopting a three-year economic reform programme backed by the International Monetary Fund (IMF) since late 2016.