Hermes praises Egypt's ability to pay external debts
Euler Hermes
Cairo - MENA
Egypt's external debt repayments were made even more comfortable, as the import cover of foreign reserves recovered to pre-crisis levels, Euler Hermes said on Tuesday.
In an economic research, a copy of which was obtained by MENA, Euler Hermes described Egypt as a "large domestic market" that has a strategic position between Middle Eastern and African
markets.
Speaking about Egypt's relatively diversified economy, the Paris-based insurance company said the sources of foreign exchange generation include oil and gas, tourism, Suez Canal revenues, workers’ remittances and a manufacturing base.
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