Euler Hermes praises Egypt's ability to pay external debts

CAIRO - 3 October 2017: 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.