Egypt Plans to Pay Foreign Oil Firms Partially in Pounds: Watan

Egypt plans to repay a quarter of its about $9 billion debt to foreign oil companies in Egyptian pounds, the independent El-Watan newspaper reported, citing Industry and Foreign Trade Minister Hatem Saleh.

The remainder would be paid in installments over the coming period, it quoted him as saying without providing further details.

To contact the reporter on this story: Ola Galal in Cairo at ogalal@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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