The Scale of the Obligation (End of June 2024)
$152.9 B
Total External Debt
$32.9 B
Debt Service Paid in FY 2024 (An All-Time High)
Deconstructing the Debt (End of June 2024)
Understanding who holds the debt and what form it takes is crucial. As of mid-2024, the debt is heavily concentrated with multilateral institutions and a diverse group of creditor countries, with a significant portion in government bonds.
Long-Term Debt Structure by Type
External Debt Structure by Creditor
The Eurobond Paydown Schedule
This chart shows the projected schedule for paying down the total outstanding Eurobond debt. Starting at approximately $32 billion in 2024, the balance is front-loaded with steep reductions in the initial years, followed by a more gradual paydown until the debt is cleared around 2060.
The IMF's Central Role
IMF Loan Arrangements (in SDR)
Egypt's engagement with the IMF involves multiple loan types. This chart shows the evolution of outstanding credit under different arrangements, peaking in 2021 before a gradual reduction.
Top Multilateral Creditors (2024)
- IMF$17.3 B
- IBRD (World Bank)$12.2 B
- European Investment Bank$4.4 B
- African Export-Import Bank$4.0 B
- African Development Bank$2.6 B
The Human Cost: Interest vs. Public Services
The most significant impact is felt domestically. The enormous cost of servicing domestic debt directly crowds out spending on essential public services. For the 2023/24 fiscal year, the comparison is stark.
In the 2024/25 budget, domestic interest payments are projected to exceed all taxes collected.