Egypt paid $355 million in debts

The volume of Egypt's external debt retreated at the end of December 1999 as the debts' value nearly reached $18.7 billion in comparison to $29 million in September.

Ismail Hassan, governor of Egyptian Central Bank, asserted in statements to ArabicNews.com that Egypt paid $355 million dollars to the countries of the Paris Club which hold nearly 74.9% of the total debts.

He added that Egypt is constant in paying the debts' installments and interest on time and that Egypt paid nearly $800 million last year, while the use of loans and facilities reached nearly $300 million in the framework of limiting external borrowing.