Egypt's foreign debt up $3.5 billion in Q4 of 2023

Egypt's foreign debt climbed by $3.5 billion in the three months to the end of December, according to central bank data released on Thursday.

Total foreign debt rose to $168.0 billion from $164.5 billion at the end of September and $162.9 billion at the end of December 2022.

Egypt has quadrupled its foreign debt since 2015 to help fund a new capital, build infrastructure, buy weapons and support an overvalued currency.