Offers to purchase 10% of Egypt's commercial due debts for Germany

Egyptian and international corporations presented offers to German banks to purchase 10% of Egypt's commercial debts to Germany, which total 214 million marks ($119.8 million), the most prominent of which are Banque Misr and City Bank.

Egyptian economic sources told to ArabicNews.com that this step comes within the program of settling Egypt's external debts, adopted by the Ministry of Economy and aiming at reducing the country's external debts.