Egypt Independent

Egypt pays off $1 bln debt to Turkey, pays Libya $250 mln

Egypt has paid off the final installment, worth $200 million, of a $1 billion loan it took out from Turkey in 2012 during former President Mohamed Morsi’s brief tenure in office, state news agency MENA said on Thursday.

Egypt also paid Libya $250 million as an installment towards settling a $1.5 billion loan, Central Bank Sub-governor Rami Aboul Naga told MENA, and would pay two more installments worth a combined $500 million next year to settle the debt.