The Clap
Egypt’s external debt rose to $145.52 billion by the end of Q2-FY 2022, recording an increase of $8.1 billion over the recorded external debt at Q1-FY 2022.
The deets
Long-term debts occupied the most significant proportion of external debt, recording $132.6 billion. Egypt’s short-term debt amounted to $12.84 billion.
Claps Class
Long-term debt is debt that is due after a year.
In related news
Last month, Egypt issued Japanese yen-denominated bonds for the first time. The step is aimed at diversifying debt tools and sources.
Why this matters?
Countries with large & unsustainable amount of debt can suffer currency fluctuations & capital outflows.
