Cairo – Mubasher: Egypt will pay $5.2 billion for the African Export-Import Bank (Afreximbank) before the end of December 2017, the Governor of the Central Bank of Egypt (CBE) Tarek Amer told Almal News.

Paying the required dues to the Afreximbank will help in decreasing Egypt’s external liabilities, Amer said.

The debt includes a short-term loan of $3.2 billion, in addition to $2 billion the CBE obtained by repurchasing government securities with the Afreximbank through the mechanism of the repurchase agreement (repo), according to the newspaper.

Egypt will pay about $8.134 billion of its short-term external debts in the fourth quarter of 2017, the newspaper added.