Egypt Repays $2.1b of Debt to Foreign Energy Companies

Egypt has paid $2.1 billion of its debt to foreign energy companies, leaving $3.1 billion still owed, Oil Minister Sherif Ismail said in a statement.

Egypt made earlier payments of $1.5 billion in December 2013, and $1.4 billion in October 2014, Ismail added.

Arrears to foreign energy companies have hampered investment in the sector.

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