Egypt Foreign Debt Drops to $160.6bn: A Closer Look at Q1 2024’s Financial Success

Egypt Foreign Debt Drops by $7.4 Billion in Q1 2024 In a significant development for Egypt’s economy, the country’s foreign debt has experienced a notable decrease of $7.4 billion in the first quarter of 2024. This positive shift, according to data from the Central Bank of Egypt, marks a crucial turn in Egypt’s financial landscape. The Impact of UAE Investment One of the key factors contributing to this reduction in foreign debt is the substantial $35 billion investment from the United Arab Emirates. In February 2024, Egypt secured this investment by