Central Bank of Egypt - cbe.org.eg

m Central Bank of Egypt - External Position
xternal Debt
bt
tember 2012

Rescheduled Debt
70%

38

Central Bank of Egypt - External Position 39

Table ( 6 )

Medium- and Long-Term

Public & Publicly Guaranteed External Debt By Creditor Country

Supplier's Credit

Outstanding Stock as at End of September

(US$ million){1}

Country Total Debt

2009 2010 2011 2012

Japan 33.09 17.40 14.69 10.33
Canada 8.65 8.59 8.27 8.24
Italy 0.20 0.95 0.92 0.14
Denmark 0.40 0.11 0.00 0.00
France 16.34 0.00 0.00 0.00
Germany 8.28 0.00 0.00 0.00
Lebanon 0.31 0.00 0.00 0.00
Sweden 0.15 0.00 0.00 0.00
United Kingdom 0.05 0.00 0.00 0.00
Saudi Arabia 0.01 0.00 0.00 0.00

Grand Total 67.48 27.05 23.88 18.71

{1} Using end of period exchange rate. Medium- and Long-Term
Public & Publicly Guaranteed External Debt
Figure 6
Supplier's Credit
120 Outstanding Stock as at End of September

100

80

( US$ mn ) 60

40

20

0 2007 2008 2009 2010 2011 2012
2006

Central Bank of Egypt - External Position 40

Table ( 7 )
Medium- and Long-Term
Public & Publicly Guaranteed External Debt By Creditor Country

Other Bilateral Debt
Outstanding Stock as at End of September

(US$ million){1}

Total Debt

Country 2009 2010 2011 2012

Kuwait 672.75 705.65 825.19 933.76

China 125.11 132.34 143.13 136.80

Saudi Arabia 28.40 36.64 59.05 78.76

United Arab Emirates 37.45 29.41 25.42 22.60

Bahrain 4.60 0.00 0.00 0.00

Grand Total 868.31 904.04 1,052.79 1,171.92

{1} Using end of period exchange rate.

Figure 7

( US$ mn ) 1,200 Medium- and Long-Term
1,000 Public & Publicly Guaranteed External Debt

800 Other Bilateral Debt
600 Outstanding Stock as at End of September
400
200 2007 2008 2009 2010 2011 2012

0

2006

Central Bank of Egypt - External Position 41

Table ( 8 )
Medium- and Long-Term
Public & Publicly Guaranteed External Debt
Multilateral Institutions
Outstanding Stock as at End of September

(US$ million){1}

Total Debt

Creditor

2009 2010 2011 2012

IBRD 1,826.08 2,542.85 2,777.75 3,006.42
European Investment Bank 2,270.20 2,110.80 1,913.61 1,829.05
African Development Bank 1,086.23 1,244.05 1,256.12 1,409.85
IMF 1,186.64 1,408.09 1,385.58 {2}
Arab Fund for Economic and Social Development 0.00 1,276.21 1,332.86 1,347.58
IDA 1,199.42 1,381.31 1,332.53 1,264.87
Arab Monetary Fund 1,443.39 343.54
African Development Fund 152.02 77.20 29.16 227.25
Islamic Development Bank 246.50 239.94 239.38 183.94
OPEC 61.14 131.53 115.53
International Fund for Agricultural Development 52.08 85.74 102.88 107.11
Arab International Bank 71.70 114.13 112.16 100.00
Arab Trade Financing Program 119.97 20.00 100.00
0.00 65.00 58.56 35.60
45.56

Grand Total 8,513.15 10,405.01 10,794.63 11,356.32

{1} Using end of period exchange rate.

(2) Representing SDR allocations by IMF to its member countries. Egypt’s share is SDR 898.45 mn.

Figure 8-1

Medium- and Long-Term
Public & Publicly Guaranteed External Debt

Multilateral Institutions
Outstanding Stock as at End of September

( US$ mn ) 12,000
10,000

8,000
6,000
4,000
2,000

0

2006 2007 2008 2009 2010 2011 2012

Figure 8 - 2 Medium- and Long-
Public & Publicly Guarantee
African Development Bank
12% Multilateral Institu
Outstanding Stock as at End of

IMF
12%

IBRD
27 %

g-Term Central Bank of Egypt - External Position
ed External Debt

utions
f September 2012

IDA
12%

European
Investment Bank

16%

AFESD
12%

Others 42
9%

Central Bank of Egypt - External Position 43

Table ( 9 )
Medium- and Long-Term
Private Sector Non-Guaranteed External Debt By Creditor Country
Outstanding Stock as at End of September

(US$ million){1}

Country Total Debt

2009 2010 2011 2012

Multilateral Institutions 11.00 5.00 17.50 10.85
United States 50.00 50.00 0.00 0.00

Austria 2.64 2.46 0.00 0.00

Bahrain 20.00 0.00 0.00 0.00

Grand Total 83.64 57.46 17.50 10.85

{1} Using end of period exchange rate.

Figure 9

Medium- and Long-Term
Private Sector Non-Guaranteed External Debt

Outstanding Stock as at End of September

( US$ mn ) 90
80
70 2007 2008 2009 2010 2011 2012
60
50
40
30
20
10

0
2006

Central Bank of Egypt - External Position 44

Table ( 10 )
Short-Term Debt
Outstanding Stock as at End of September

Total Debt (US$ million)

2009 2010 2011 2012

Short-Term Debt

Trade Credits 1,082.32 1,745.58 2,021.02 2,001.59
Deposits (Non-Residents) 1,326.61 1,121.36 947.38 942.96
Loans 17.50
20.00 3.92 0.00
Grand Total
2,428.93 2,870.86 2,985.90 2,944.55

Figure 10

Short-Term Debt
Outstanding Stock as at End of September

3,000

2,500

2,000

( US$ mn ) 1,500

1,000

500

0 2007 2008 2009 2010 2011 2012
2006

Central Bank of Egypt - External Position 45

Table ( 11 )
Medium- and Long-Term
Disbursed and Undisbursed Amounts for Signed Loans and Deposits
from 1/10/2009 to 30/9/2012

1- Medium- and Long-Term Public Signed Amount Disbursed (US$ million){1}
& Publicly Guaranteed Debt Undisbursed
8,823.26 3,441.75
5,412.59

A. Paris Club Bilateral Debt 1,379.68 103.32 1,276.36
Non-Rescheduled Debt 1,379.68 103.32 1,276.36

B. Other Bilateral Debt 313.40 85.80 227.60

C. Multilateral Institutions 5,630.18 1,752.63 3,908.63
D. Deposits {2} 1,500.00 1,500.00 0.00

2- Medium- and Long-Term Private 100.50 78.85 21.65
Sector Non-Guaranteed Debt 5,434.24

Grand Total 8,923.76 3,520.60 2012

{1} Using end of period exchange rate.
(2) Representing Saudi & Qatari deposits amounting to US$ 1000 and 500 million, respectively .

Figure 11

Medium- and Long-Term Disbursed and Undisbursed Amounts
for Signed Loans and Deposits
from 1/10/2005 to 30/9/2012

( US$ mn ) 4,500.00
4,000.00
3,500.00
3,000.00
2,500.00
2,000.00
1,500.00
1,000.00

500.00
0.00

2006 2007 2008 2009 2010 2011

Signed Loans and Deposit Disbursed Undisbursed

Central Bank of Egypt - External Position 46

Table ( 12 )
Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service
as of October 1, 2012

Period Principal Interest Total Period Principal Interest (US$ million)(1)

Total

2012/H2 246.17 129.00 375.17 2032/H1 86.77 21.26 108.03
2013/H1 1123.19 329.25 1,452.44 2032/H2 82.59 20.70 103.29
2013/H2 1244.39 327.07 1,571.46 2033/H1 75.30 20.17 95.46
2014/H1 1171.98 303.67 1,475.65 2033/H2 68.79 19.71 88.50
2014/H2 1232.81 304.24 1,537.06 2034/H1 65.59 19.27 84.86
2015/H1 1257.11 281.86 1,538.97 2034/H2 62.02 18.86 80.87
2015/H2(2)
2016/H1 2652.66 280.83 2,933.49 2035/H1 61.18 18.44 79.62
2016/H2 1435.89 230.86 1,666.74 2035/H2 60.30 18.04 78.34
2017/H1(3) 1470.18 228.25 1,698.44 2036/H1 56.81 17.63 74.45
2017/H2
2018/H1 1554.87 206.62 1,761.49 2036/H2 55.50 17.25 72.75
2018/H2 1070.27 192.23 1,262.50 2037/H1 54.17 16.86 71.02
2019/H1 1073.96 173.19 1,247.15 2037/H2 53.02 16.49 69.51
2019/H2 1081.03 170.50 1,251.53 2038/H1 39.61 16.11 55.72
2020/H1(4) 1038.58 151.86 1,190.45 2038/H2 25.05 15.95 41.00
1045.39 148.79 1,194.18 2039/H1 21.00 15.85 36.86
2020/H2
2021/H1 1413.84 131.65 1,545.48 2039/H2 20.46 15.78 36.24
2021/H2 2040/H1(5)
2022/H1 854.17 115.25 969.42 2040/H2 437.15 15.71 452.86
2022/H2 749.42 99.66 849.08 2041/H1 18.44 1.27 19.71
2023/H1 712.11 96.48 808.59 2041/H2 16.82 1.19 18.02
2023/H2 523.64 82.84 606.48 2042/H1 16.77 1.14 17.91
2024/H1 538.44 81.98 620.42 2042/H2 15.13 1.07 16.20
2024/H2 511.97 71.79 583.76 2043/H1 12.94 1.03 13.96
2025/H1 532.19 70.27 602.46 2043/H2 12.86 0.97 13.83
2025/H2 501.52 60.82 562.34 2044/H1 11.98 0.93 12.92
2026/H1 516.88 58.84 575.72 2044/H2 10.93 0.89 11.82
2026/H2 484.34 50.03 534.37 2045/H1 10.72 0.85 11.56
2027/H1 503.34 47.64 550.98 2045/H2 10.40 0.80 11.20
2027/H2 449.11 39.77 488.88 2046/H1 10.40 0.77 11.17
2028/H1 440.12 37.08 477.20 2046/H2 9.42 0.73 10.15
2028/H2 187.10 30.97 218.07 2047/H1 7.03 0.70 7.73
2029/H1 201.87 31.15 233.03 2047/H2 6.33 0.67 7.00
2029/H2 170.89 28.24 199.13 2048/H1 3.29 0.65 3.94
2030/H1 179.65 27.91 207.56 2048/H2 2.54 0.64 3.18
2030/H2 150.59 25.77 176.37 2049/H1 1.26 0.63 1.90
2031/H1 143.25 25.20 168.45 2049/H2 0.30 0.62 0.93
2031/H2 118.85 23.79 142.64 2050/H1 0.30 0.63 0.93
108.58 23.26 131.84 2050/H2 0.30 0.63 0.93
94.97 22.42 117.39 0.05 0.63 0.68
90.07 21.83 111.91

Grand Total 30378.93 (6) 5084.40 (7) 35463.33

(1) The exchange rate of September 30, 2012 .
(2) Includes US$ 1250.00 million guaranteed notes maturing 2015.
(3) Includes US$ 500.00 million Saudi bond maturing 2017.
(4) Includes US$ 457.19 million sovereign notes maturing 2020.
(5) Includes US$ 418.02 million sovereign notes maturing 2040.
(6) Excludes US$ 1,385.58 million representing SDR allocation by IMF to its member countries, Egypt’s share is SDR 898.45 mn.
(7) Includes US$ 47.70 million representing forecast interest of SDR allocation.

Figure 12

US$ mn Medium- and Long-Term Public and Publi
Service as of Octobe

5,000

4,500

4,000
3,500

3,000

2,500

2,000

1,500
1,000

500

0 2014 2016 2018 2020 2022 2024 2026 2028 2030

2012

Principal Interes

icly Guaranteed External Debt Central Bank of Egypt - External Position
er 1 , 2012

2032 2035 2037 2039 2041 2043 2045 2047 2049

st Total

47

Central Bank of Egypt - External Position 48

Table ( 13 )

Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service

Paris Club Bilateral Debt

as of October 1, 2012

(US$ million){1}

Period Principal Interest Total Period Principal Interest Total

2012/H2 128.14 32.09 160.23 2032/H1 44.02 2.32 46.34
860.17 2032/H2 42.57 2.17 44.74
2013/H1 727.30 132.87 913.13 2033/H1 39.36 2.03 41.39
888.10 2033/H2 37.28 1.90 39.18
2013/H2 776.53 136.60 939.10 2034/H1 35.27 1.78 37.05
908.61 2034/H2 33.61 1.66 35.27
2014/H1 769.71 118.39 956.98 2035/H1 32.78 1.54 34.32
954.73 2035/H2 31.90 1.43 33.32
2014/H2 816.00 123.11 1001.82 2036/H1 30.19 1.32 31.51
520.82 2036/H2 29.28 1.21 30.49
2015/H1 802.81 105.80 556.78 2037/H1 28.38 1.11 29.48
526.72 2037/H2 27.35 1.01 28.35
2015/H2 847.39 109.59 562.71 2038/H1 24.89 0.91 25.80
511.83 2038/H2 21.83 0.82 22.66
2016/H1 861.70 93.02 549.94 2039/H1 18.24 0.75 18.99
496.66 2039/H2 17.74 0.68 18.42
2016/H2 906.21 95.61 520.65 2040/H1 17.09 0.62 17.70
465.58 2040/H2 16.39 0.55 16.95
2017/H1 441.30 79.52 459.80 2041/H1 14.78 0.50 15.28
2017/H2 473.76 83.02 280.94 2041/H2 14.72 0.44 15.16
308.17 2042/H1 13.08 0.39 13.47
2018/H1 457.00 69.72 278.85 2042/H2 10.89 0.34 11.24
2018/H2 490.11 72.60 304.24 2043/H1 10.81 0.30 11.11
277.50 2043/H2 10.46 0.26 10.73
2019/H1 452.24 59.60 296.74 2044/H1 9.97 0.23 10.19
2019/H2 488.15 61.79 272.10 2044/H2 9.75 0.19 9.94
300.72 2045/H1 9.43 0.16 9.59
2020/H1 446.86 49.81 272.46 2045/H2 9.43 0.12 9.55
2020/H2 469.44 51.21 292.18 2046/H1 8.45 0.09 8.54
59.94 2046/H2 6.06 0.06 6.12
2021/H1 425.61 39.97 80.61 2047/H1 5.36 0.04 5.40
2021/H2 419.27 40.53 55.60 2047/H2 2.31 0.02 2.33
71.13 2048/H1 1.87 0.01 1.88
2022/H1 250.43 30.50 53.14 2048/H2 1.01 0.00 1.01
2022/H2 275.62 32.55 60.70 2049/H1 0.05 0.00 0.05
50.25 2049/H2 0.05 0.00 0.05
2023/H1 253.46 25.39 55.24 2050/H1 0.05 0.00 0.05
2023/H2 277.50 26.74
47.70 2050/H2 0.05 0.00 0.05
2024/H1 257.32 20.18 47.28
2024/H2 275.80 20.94 15,092.35 1,821.20 16,913.55

2025/H1 257.20 14.90
2025/H2 285.74 14.98

2026/H1 262.92 9.53
2026/H2 283.45 8.73

2027/H1 55.99 3.95
2027/H2 75.28 5.33

2028/H1 52.00 3.60
2028/H2 66.77 4.36

2029/H1 49.88 3.26

2029/H2 57.15 3.55

2030/H1 47.33 2.92

2030/H2 52.30 2.95

2031/H1 45.10 2.61
2031/H2 44.82 2.46

Grand Total

{1} The exchange rate of September 30, 2012 .

Figure 13

US$ mn Medium- and Long-Term Public and Publi
2500 Service as of Octobe
Paris Club Bilatera

2000

1500

1000

500

0

2012 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032

Principal Intere

icly Guaranteed External Debt Central Bank of Egypt - External Position
er 1 , 2012

al Debt

2 2034 2036 2038 2040 2042 2044 2046 2048 2050

est Total

49

Central Bank of Egypt - External Position 50

Table ( 14 )

Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service as of October 1, 2012

Paris Club Bilateral Debt

Rescheduled Debt

(US$ million){1}

Period Principal Interest Total Period Principal Interest Total

2012/H2 0.00 2.28 2.28 2020/H1 343.65 41.79 385.45
700.92 2020/H2 348.02 37.17 385.19
2013/H1 593.22 107.70 712.20 2021/H1 350.78 33.03 383.82
731.85 2021/H2 323.26 28.32 351.57
2013/H2 610.05 102.15 744.98 2022/H1 188.51 24.35 212.86
758.46 2022/H2 191.36 21.86 213.22
2014/H1 633.35 98.50 772.52 2023/H1 194.25 19.75 214.00
792.87 2023/H2 197.18 17.23 214.41
2014/H2 652.39 92.60 811.11 2024/H1 199.85 15.01 214.86
379.00 2024/H2 197.55 12.49 210.04
2015/H1 669.95 88.51 378.47 2025/H1 200.41 10.12 210.53
389.38 2025/H2 203.57 7.56 211.13
2015/H2 690.06 82.45 388.78 2026/H1 206.51 5.21 211.71
387.38 2026/H2 206.18 2.39 208.57
2016/H1 714.86 78.01 386.90

2016/H2 739.20 71.90

2017/H1 312.27 66.73

2017/H2 316.34 62.13

2018/H1 330.58 58.81

2018/H2 334.74 54.04

2019/H1 337.01 50.37

2019/H2 341.27 45.63

Grand Total 10,626.35 1,338.10 11,964.45

{1} The exchange rate of September 30, 2012 .

Central Bank of Egypt - External Position 51

Table ( 15 )

Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service as of October 1, 2012

Paris Club Bilateral Debt

Non-Rescheduled Debt

(US$ million){1}

Period Principal Interest Total Period Principal Interest Total

2012/H2 128.14 29.81 157.95 2032/H1 44.02 2.32 46.34
25.17 159.26 2032/H2 42.57 2.17 44.74
2013/H1 134.09 34.44 200.93 2033/H1 39.36 2.03 41.39
19.89 156.25 2033/H2 37.28 1.90 39.18
2013/H2 166.49 30.51 194.12 2034/H1 35.27 1.78 37.05
17.29 150.16 2034/H2 33.61 1.66 35.27
2014/H1 136.37 27.14 184.46 2035/H1 32.78 1.54 34.32
15.01 161.86 2035/H2 31.90 1.43 33.32
2014/H2 163.61 23.71 190.71 2036/H1 30.19 1.32 31.51
12.79 141.82 2036/H2 29.28 1.21 30.49
2015/H1 132.87 20.89 178.31 2037/H1 28.38 1.11 29.48
10.91 137.34 2037/H2 27.35 1.01 28.35
2015/H2 157.32 18.56 173.92 2038/H1 24.89 0.91 25.80
9.23 124.45 2038/H2 21.83 0.82 22.66
2016/H1 146.85 16.17 163.04 2039/H1 18.24 0.75 18.99
8.01 111.22 2039/H2 17.74 0.68 18.42
2016/H2 167.00 14.04 135.46 2040/H1 17.09 0.62 17.70
6.94 81.77 2040/H2 16.39 0.55 16.95
2017/H1 129.03 12.21 108.22 2041/H1 14.78 0.50 15.28
6.15 68.08 2041/H2 14.72 0.44 15.16
2017/H2 157.42 10.69 94.95 2042/H1 13.08 0.39 13.47
5.63 64.85 2042/H2 10.89 0.34 11.24
2018/H1 126.43 9.51 89.83 2043/H1 10.81 0.30 11.11
5.17 62.64 2043/H2 10.46 0.26 10.73
2018/H2 155.37 8.45 86.71 2044/H1 9.97 0.23 10.19
4.78 61.56 2044/H2 9.75 0.19 9.94
2019/H1 115.23 7.43 89.59 2045/H1 9.43 0.16 9.59
4.32 60.74 2045/H2 9.43 0.12 9.55
2019/H2 146.87 6.34 83.61 2046/H1 8.45 0.09 8.54
3.95 59.94 2046/H2 6.06 0.06 6.12
2020/H1 103.20 5.33 80.61 2047/H1 5.36 0.04 5.40
3.60 55.60 2047/H2 2.31 0.02 2.33
2020/H2 121.42 4.36 71.13 2048/H1 1.87 0.01 1.88
3.26 53.14 2048/H2 1.01 0.00 1.01
2021/H1 74.83 3.55 60.70 2049/H1 0.05 0.00 0.05
2.92 50.25 2049/H2 0.05 0.00 0.05
2021/H2 96.01 2.95 55.24 2050/H1 0.05 0.00 0.05
2.61 47.70 2050/H2 0.05 0.00 0.05
2022/H1 61.93 2.46 47.28
4,466.00 483.10 4,949.10
2022/H2 84.26

2023/H1 59.22

2023/H2 80.32

2024/H1 57.47

2024/H2 78.25

2025/H1 56.79

2025/H2 82.17

2026/H1 56.42

2026/H2 77.27

2027/H1 55.99

2027/H2 75.28

2028/H1 52.00

2028/H2 66.77

2029/H1 49.88

2029/H2 57.15

2030/H1 47.33

2030/H2 52.30

2031/H1 45.10

2031/H2 44.82

Grand Total

{1} The exchange rate of September 30, 2012 .

Central Bank of Egypt - External Position 52

Table ( 16 )
Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service
Supplier's Credit

as of October 1, 2012

Period Principal Interest Total Period Principal (US$ million){1}

Interest Total

2012/H2 0.04 0.00 0.04 2026/H1 0.16 0.00 0.16
2013/H1 2.25 0.11 2.36 2026/H2 0.16 0.00 0.16
2013/H2 2.25 0.09 2.34 2027/H1 0.16 0.00 0.16
2014/H1 2.25 0.07 2.32 2027/H2 0.16 0.00 0.16
2014/H2 2.25 0.05 2.29 2028/H1 0.16 0.00 0.16
2015/H1 2.25 0.02 2.27 2028/H2 0.16 0.00 0.16
2015/H2 0.18 0.00 0.18 2029/H1 0.16 0.00 0.16
2016/H1 0.18 0.00 0.18 2029/H2 0.16 0.00 0.16
2016/H2 0.18 0.00 0.18 2030/H1 0.16 0.00 0.16
2017/H1 0.16 0.00 0.16 2030/H2 0.16 0.00 0.16
2017/H2 0.16 0.00 0.16 2031/H1 0.16 0.00 0.16
2018/H1 0.16 0.00 0.16 2031/H2 0.16 0.00 0.16
2018/H2 0.16 0.00 0.16 2032/H1 0.16 0.00 0.16
2019/H1 0.16 0.00 0.16 2032/H2 0.16 0.00 0.16
2019/H2 0.16 0.00 0.16 2033/H1 0.16 0.00 0.16
2020/H1 0.16 0.00 0.16 2033/H2 0.16 0.00 0.16
2020/H2 0.16 0.00 0.16 2034/H1 0.16 0.00 0.16
2021/H1 0.16 0.00 0.16 2034/H2 0.16 0.00 0.16
2021/H2 0.16 0.00 0.16 2035/H1 0.16 0.00 0.16
2022/H1 0.16 0.00 0.16 2035/H2 0.16 0.00 0.16
2022/H2 0.16 0.00 0.16 2036/H1 0.16 0.00 0.16
2023/H1 0.16 0.00 0.16 2036/H2 0.16 0.00 0.16
2023/H2 0.16 0.00 0.16 2037/H1 0.16 0.00 0.16
2024/H1 0.16 0.00 0.16 2037/H2 0.04 0.00 0.04
2024/H2 0.16 0.00 0.16 2038/H1 0.04 0.00 0.04
2025/H1 0.16 0.00 0.16 2038/H2 0.04 0.00 0.04
2025/H2 0.16 0.00 0.16 2039/H1 0.04 0.00 0.04

Grand Total 18.71 0.34 19.05

{1} The exchange rate of September 30, 2012 .

Central Bank of Egypt - External Position 53

Table ( 17 )
Projected Medium and Long-Term Public & Publicly Guaranteed

External Debt Service as of October 1, 2012
Other Bilateral Debt

Period Principal Interest Total Period Principal (US$ million){1}
2024/H2
2012/H2 12.74 7.49 20.23 2025/H1 31.01 Interest Total
59.91 2025/H2 23.69
2013/H1 45.26 14.64 42.89 2026/H1 23.06 2.54 33.56
55.57 2026/H2 17.08 2.09 25.78
2013/H2 28.68 14.22 44.95 2027/H1 14.12 1.75 24.82
62.12 2027/H2 14.12 1.42 18.51
2014/H1 41.79 13.78 46.83 2028/H1 13.81 1.19 15.31
65.00 2028/H2 11.11 1.01 15.13
2014/H2 31.55 13.40 49.38 2029/H1 8.84 0.82 14.64
70.84 2029/H2 5.51 0.64 11.76
2015/H1 49.20 12.93 53.27 2030/H1 5.51 0.50 9.34
63.08 2030/H2 4.44 0.39 5.90
2015/H2 34.38 12.44 53.87 2031/H1 2.99 0.34 5.85
59.10 2031/H2 2.45 0.28 4.72
2016/H1 53.07 11.93 48.07 2032/H1 2.56 0.24 3.23
54.68 2032/H2 2.56 0.21 2.66
2016/H2 37.98 11.40 43.70 2033/H1 2.56 0.19 2.75
52.95 2033/H2 2.00 0.16 2.72
2017/H1 60.00 10.85 41.56 2034/H1 1.78 0.13 2.70
50.27 2034/H2 1.78 0.11 2.11
2017/H2 43.06 10.21 39.32 2035/H1 1.78 0.09 1.87
37.54 2035/H2 1.78 0.07 1.85
2018/H1 53.50 9.58 37.05 1.78 0.05 1.83
36.56 0.04 1.81
2018/H2 44.93 8.94 0.02 1.80

2019/H1 50.81 8.29

2019/H2 40.37 7.70

2020/H1 47.57 7.10

2020/H2 37.12 6.58

2021/H1 46.90 6.05

2021/H2 36.03 5.53

2022/H1 45.25 5.02

2022/H2 34.80 4.51

2023/H1 33.52 4.01

2023/H2 33.52 3.52

2024/H1 33.52 3.03

Grand Total 1,171.92 227.44 1,399.36

{1} The exchange rate of September 30, 2012 .

Central Bank of Egypt - External Position 54

Table ( 18 )
Projected Medium- and Long-Term Public & Publicly Guaranteed

External Debt Service as of October 1, 2012
Multilateral Institutions

Period Principal Interest Total Period Principal Interest (US$ million){1}

2012/H2 105.25 46.70 151.95 2032/H1 40.02 4.41 Total
2013/H1 348.37 108.49 456.86 2032/H2 37.29 4.02
2013/H2 436.94 102.94 539.88 2033/H1 33.78 3.65 44.43
2014/H1 358.23 98.30 456.53 2033/H2 29.57 3.35 41.31
2014/H2 383.02 94.46 477.48 2034/H1 28.37 3.05 37.43
2015/H1 402.85 89.97 492.82 2034/H2 26.46 2.78 32.92
2015/H2 420.70 85.57 506.27 2035/H1 26.46 2.49 31.43
2016/H1 370.93 80.98 451.91 2035/H2 26.46 2.22 29.24
2016/H2 375.81 76.82 452.63 2036/H1 26.46 1.94 28.95
2017/H1 403.41 72.43 475.84 2036/H2 26.06 1.67 28.68
2017/H2 403.28 68.15 471.43 2037/H1 25.63 1.38 28.40
2018/H1 413.29 63.63 476.93 2037/H2 25.63 1.12 27.72
2018/H2 395.83 59.20 455.03 2038/H1 14.68 0.83 27.01
2019/H1 385.37 54.78 440.15 2038/H2 3.18 0.75 26.74
2019/H2 366.71 50.62 417.33 2039/H1 2.72 0.74 15.51
2020/H1 312.06 46.60 358.66 2039/H2 2.72 0.73 3.93
2020/H2 297.45 43.00 340.45 2040/H1 2.05 0.72 3.46
2021/H1 276.75 39.27 316.01 2040/H2 2.05 0.71 3.45
2021/H2 256.65 36.06 292.70 2041/H1 2.05 0.70 2.76
2022/H1 227.79 32.95 260.74 2041/H2 2.05 0.70 2.76
2022/H2 227.85 30.55 258.40 2042/H1 2.05 0.68 2.74
2023/H1 224.82 28.02 252.84 2042/H2 2.05 0.68 2.74
2023/H2 221.00 25.64 246.64 2043/H1 2.05 0.67 2.73
2024/H1 210.51 23.24 233.75 2043/H2 1.52 0.67 2.73
2024/H2 209.91 20.98 230.89 2044/H1 0.97 0.66 2.71
2025/H1 203.30 18.67 221.96 2044/H2 0.97 0.66 2.19
2025/H2 194.37 16.54 210.91 2045/H1 0.97 0.64 1.63
2026/H1 168.94 14.45 183.38 2045/H2 0.97 0.65 1.63
2026/H2 142.38 12.79 155.17 2046/H1 0.97 0.64 1.61
2027/H1 116.83 11.64 128.47 2046/H2 0.97 0.64 1.62
2027/H2 112.62 10.62 123.24 2047/H1 0.97 0.63 1.61
2028/H1 107.61 9.63 117.24 2047/H2 0.97 0.64 1.61
2028/H2 103.88 8.68 112.55 2048/H1 0.67 0.63 1.60
2029/H1 95.04 7.75 102.79 2048/H2 0.25 0.63 1.61
2029/H2 80.43 6.94 87.37 2049/H1 0.25 0.62 1.30
2030/H1 66.92 6.21 73.12 2049/H2 0.25 0.63 0.88
2030/H2 53.13 5.70 58.83 2050/H1 0.25 0.62 0.87
2031/H1 47.25 5.24 52.49 2050/H2 0.00 0.63 0.88
2031/H2 42.53 4.82 47.35 0.87
0.63
Grand Total 9,970.74 (2) 1,668.62
(3) 11,639.36

{1} The exchange rate of September 30, 2012 .
(2) Excludes US$ 1,385.58 million representing SDR allocations by IMF to its member countries. Egypt’s share is SDR 898.45 mn.
(3) Includes US$ 47.70 million representing forecast interest of SDR allocation.

Figure 18 Total Medium- and Long-Term Public and Publicly G
Multilateral Institutio
US$ mn as of October 1, 201

1200

1000

800

600

400

200

0 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032
2012

Principal Interest

Guaranteed External Debt Service Central Bank of Egypt - External Position
ons
12 55

2 2034 2036 2038 2040 2042 2044 2046 2048 2050

Total

Central Bank of Egypt - External Position 56

Table ( 19 ) (US$ million)
Projected Guaranteed Notes
Debt Service as of October 1, 2012 Total
27.81
Period Principal Interest 27.81
27.81
2013/H1 0.00 27.81 27.81
2013/H2 0.00 27.81 27.81
2014/H1 0.00 27.81 1,277.81
2014/H2 0.00 27.81 1,416.86
2015/H1 0.00 27.81
2015/H2 1,250.00 27.81
Grand Total 1,250.00 166.86

Central Bank of Egypt - External Position 57

Table ( 20 )
Projected Sovereign Notes
Debt Service as of October 1, 2012

Period Principal Interest Total Period Principal Interest (US$ million)

2012/H2 0.00 27.51 27.51 2026/H2 0.00 14.37 Total
27.51 27.51 2027/H1 0.00 14.37
2013/H1 0.00 27.51 27.51 2027/H2 0.00 14.37 14.37
27.51 27.51 2028/H1 0.00 14.37 14.37
2013/H2 0.00 27.51 27.51 2028/H2 0.00 14.37 14.37
27.51 27.51 2029/H1 0.00 14.37 14.37
2014/H1 0.00 27.51 27.51 2029/H2 0.00 14.37 14.37
27.51 27.51 2030/H1 0.00 14.37 14.37
2014/H2 0.00 27.51 27.51 2030/H2 0.00 14.37 14.37
27.51 27.51 2031/H1 0.00 14.37 14.37
2015/H1 0.00 27.51 27.51 2031/H2 0.00 14.37 14.37
27.51 27.51 2032/H1 0.00 14.37 14.37
2015/H2 0.00 27.51 27.51 2032/H2 0.00 14.37 14.37
27.51 27.51 2033/H1 0.00 14.37 14.37
2016/H1 0.00 27.51 27.51 2033/H2 0.00 14.37 14.37
27.51 484.70 2034/H1 0.00 14.37 14.37
2016/H2 0.00 14.37 14.37 2034/H2 0.00 14.37 14.37
14.37 14.37 2035/H1 0.00 14.37 14.37
2017/H1 0.00 14.37 14.37 2035/H2 0.00 14.37 14.37
14.37 14.37 2036/H1 0.00 14.37 14.37
2017/H2 0.00 14.37 14.37 2036/H2 0.00 14.37 14.37
14.37 14.37 2037/H1 0.00 14.37 14.37
2018/H1 0.00 14.37 14.37 2037/H2 0.00 14.37 14.37
14.37 14.37 2038/H1 0.00 14.37 14.37
2018/H2 0.00 14.37 14.37 2038/H2 0.00 14.37 14.37
14.37 14.37 2039/H1 0.00 14.37 14.37
2019/H1 0.00 14.37 14.37 2039/H2 0.00 14.37 14.37
14.37 14.37 2040/H1 418.02 14.37 14.37
2019/H2 0.00 875.21 1,014.96 14.37
432.39
2020/H1 457.19 1,890.17

2020/H2 0.00

2021/H1 0.00

2021/H2 0.00

2022/H1 0.00

2022/H2 0.00

2023/H1 0.00

2023/H2 0.00

2024/H1 0.00

2024/H2 0.00

2025/H1 0.00

2025/H2 0.00

2026/H1 0.00

Grand Total

Central Bank of Egypt - External Position 58

Table ( 21 ) (US$ million)
Projected Saudi Bond
Debt Service as of October 1, 2012 Total
12.50
Period Principal Interest 12.50
12.50
2012/H2 0.00 12.50 12.50
2013/H1 0.00 12.50 12.50
2013/H2 0.00 12.50 12.50
2014/H1 0.00 12.50 12.50
2014/H2 0.00 12.50 12.50
2015/H1 0.00 12.50 12.50
2015/H2 0.00 12.50 512.50
2016/H1 0.00 12.50 625.00
2016/H2 0.00 12.50
2017/H1 500.00 12.50

Grand Total 500.00 125.00

Central Bank of Egypt - External Position 59

Table ( 22 ) (US$ million)
Projected Deposits (1)
Debt Service as of October 1, 2012 Total
2.71
Period Principal Interest 5.32
5.41
2012/H2 0.00 2.71 5.32
2013/H1 0.00 5.32 5.41
2013/H2 0.00 5.41 5.33
2014/H1 0.00 5.32 105.41
2014/H2 0.00 5.41 154.91
2015/H1 0.00 5.33 154.42
2015/H2 100.00 5.41 153.82
2016/H1 150.00 4.91 153.34
2016/H2 150.00 4.42 152.75
2017/H1 150.00 3.82 152.25
2017/H2 150.00 3.34 151.69
2018/H1 150.00 2.75 151.17
2018/H2 150.00 2.25 150.62
2019/H1 150.00 1.69 50.09
2019/H2 150.00 1.17
2020/H1 150.00 0.62 1,559.97
2020/H2 50.00 0.09

Grand Total 1,500.00 59.97

(1) Representing Saudi & Qatari deposits amounting to US$ 1000 and 500 million, respectively .

Central Bank of Egypt - External Position 60

Table ( 23 )
Exchange Rates of the Currencies of External Debt Versus US Dollar

as at End of September

Country Currency 2009 2010 2011 2012

United States USD 1.00 1.00 1.00 1.00
Switzerland CHF 1.03 0.97 0.90 0.94
Denmark DKK 5.08 5.46 5.47 5.80
Egypt EGP 5.49 5.68 5.96 6.08
Sweden SEK 6.98 6.71 6.77 6.57
Japan JPY 89.40 83.35 76.72 77.94
India INR 48.70 44.56 48.99 52.70
United Kingdom GBP 0.62 0.63 0.64 0.62
Canada CAD 1.07 1.03 1.03 0.98
Australia AUD 1.13 1.03 1.02 0.96
Norway NOK 5.78 5.85 5.76 5.73
Euro EURO 0.68 0.73 0.73 0.78
Special Drawing Rights SDR 0.63 0.64 0.64 0.65
Kuwait KWD 0.29 0.28 0.28 0.28
United Arab Emirates AED 3.67 3.67 3.67 3.67
Saudi Arabia SAR 3.75 3.75 3.75 3.75

Central Bank of Egypt – External Position

Appendix III

I- Egypt's subscription to SDDS and data quality dimensions. Box Page
II- Egypt's Data Quality Dimensions. 1 64
III- Doing Business in Egypt: Reforming through difficult times. 2 65
IIII- Tourism Market Diversification. 3 66
4 67
- Definitions and Terminology 68