Prime Minister Chairs Meeting on Foreign Debt, Borrowing Regulation

PM Mostafa Madbouly  chaired the meeting of the External Debt and Borrowing Regulation Committee this evening, in the presence of Hassan Abdullah, Governor of the Central Bank, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Ahmed Kouchouk, Minister of Finance, Hassan Al-Khatib, Minister of Investment and Foreign Trade.

At the beginning of the meeting, the Prime Minister said: This is the first meeting of the External Debt Management and Borrowing Regulation Committee, after its restructuring, stressing that the committee continues to achieve the government's goals for sustaining the downward path of external debt, after we succeeded during the past fiscal year in reducing debt levels from the gross domestic product.

During the meeting, the Minister of Planning and Economic Development indicated that the responsibilities of the External Debt and Borrowing Regulation Committee are to manage the external debt file in an integrated manner, and set a maximum limit for external borrowing annually, determined in light of financial sustainability criteria.

Moreover, Rania Al-Mashat explained that the government is working to achieve the targets of reducing debt levels from the GDP in parallel with working to pump new investments that ensure an increase in the economic growth rate. 

The meeting witnessed a review of the measures currently being taken by the government to achieve its targets of sustaining the downward path of external debt.