Egypt implements strict controls on external borrowing requests

Egypt's Minister of Planning and Economic Development, Ahmed Rostam, stated that the state is applying rigorous controls and precision to all external borrowing requests. This approach follows presidential directives to review all studies to ensure repayment capacity before approval.

The primary objective is to place external debt on a gradual downward trajectory, ensuring that debt repayments exceed the volume of new borrowing. Rostam emphasized that the Ministry of Planning serves as the technical secretariat for the External Debt Management Committee, which evaluates financing requests to ensure they align with national priorities and cost-effectiveness.

Additionally, Rostam noted that Egypt's sovereign rating has stabilized, receiving positive assessments from three international credit rating agencies. He highlighted that supporting real economic sectors—such as industry, tourism, and information technology—is essential to increasing local production, reducing import needs, and achieving long-term economic sustainability.