Latest news and articles about external debt from NEX English
The Egyptian government has announced its strategy to reduce external debt by $2 billion annually. This initiative aims to enhance financial stability and improve economic conditions in the country.
Algeria has started to engage in external borrowing, a move it previously resisted, to finance its infrastructure and reduce its reliance on oil. This shift raises questions about whether it marks a fundamental change in the country's economic approach or is merely a pragmatic adjustment.
In response to rising criticism regarding the loans from the Egyptian Ministry of Transport, Minister Kamel El-Wazir stated that these loans constitute only <strong>13%</strong> of the country's total external debt, emphasizing their importance in infrastructure development.