Egyptian debt: East-West Debt news update on the debt situation in EGYPT

International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer attractive financial solutions for solving non-performing trade and bank debts in Egypt

East West Debt, solving defaulted trade and bank debt

East-West Debt oct. 2002 news, update : EGYPT

We are pleased to present another issue of East-West Debt news update on the debt situation in the world. International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer our readers attractive financial solutions for solving non-performing trade and bank debts ...

... thanks to the expertise of our international network of experts. East-West Debt is an international financial company specialised in the recovery of overdue debt. To be successful to our clients, we give the highest priority to attractive creativity, quality and integrity for solving overdue debts in high risk countries.

East-West Debt offers financial solutions to multi-nationals, banks, governments, and insurance companies in solving overdue debts in high-risk countries in:

Africa,

the Middle East,

Eastern Europe,

Latin America,

South-East Asia.

For solving overdue debts, East-West Debt is using the following solutions:

debt equity swaps

debt for counter-trade

debt for debt swaps

debt collection

international litigation

debt recovery

defaulted emerging market debt

Egypt The World Bank has announced its readiness to offer Egypt a loan of approximately $1 billion. This loan, constructed in participation with other parties and to be granted during a period of three years, will have to be paid back in 5 years at an annual rate of 2.5%, following a grace period of seven years. The loan is planned for October this year to finance structural and economic reforms programs in Egypt.
In accordance with the outstanding priorities of the government, the loan will be spent to create new work opportunities through financing smaller projects and by retraining graduates.

The World Bank is also considering to offer Egypt about $500 million within the coming years aiming to develop the rural areas, the health and educational sectors and the training and media technologies.
The African Development Bank also expressed its readiness to offer Egypt loans within three years for an estimated amount of $1.6 billion.

About $620 million comprising part of Egypt's debts to Germany and Italy will be used in development projects. Italy has allocated $220 million and Germany $400 million for these projects. The International Fund for Agricultural Development (IFAD) has also earmarked $45 million for agricultural projects. Under the deal, Italy will pay $30 million and (IFAD) will pay for the rest. Moreover, bilateral talks with Germany are planned to conclude a debt-transfer agreement for development projects.
Finally, Egypt has used $240 million from Switzerland to cut part of its debts in implementing development projects through the Swiss-Egyptian fund.

ALGERIA ARGENTINA BRAZIL EGYPT
INDONESIA IRAN IRAQ JORDAN NIGERIA PAKISTAN TURKEY UKRAINE URUGUAY VIETNAM

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.