CAIRO, June 9 (Xinhua) -- Egypt has paid off 24 billion U.S. dollars worth of debt since the beginning of 2022, the Central Bank of Egypt (CBE) said on Thursday.
The CBE's data showed that money was directed to international bonds and loans.
Egypt's net foreign reserves fell by 1.6 billion dollars in May, reaching 35.5 billion dollars by the end of the month, down from 37.1 billion dollars in April, the CBE announced on Monday.
The CBE attributed the drop to the bank's role in paying payments relating to Egypt's external debt due in May, which totaled 2 billion dollars. On behalf of the Ministry of Finance, the CBE paid treasury bonds, dues to the International Monetary Fund, and other external debt. ■