Egypt to Repay Oil Debts

Egypt  to Repay  Oil DebtsEgypt  to Repay  Oil Debts

Egypt plans to repay all of its $4.9 billion debt to foreign oil and gas companies within six months, the oil ministry said. The ministry said in a statement that Egypt planned to borrow $2 billion to help it finance the repayments, seeking to repay 60 percent of the arrears by year-end, TradeArabia reported.