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Egypt’s external debt up 3.6%

According to figures by the Egyptian Central Bank, the country's external debt rose 3.6% to $34.9bn in June 2011, compared with the same month a year earlier, Ahram has reported. The rise was mainly due to currency fluctuations, the apex lender said, with the Egyptian pound plunging against the US dollar adding $2.4bn to the total value of the country's overseas loans. Debt service payments also rose by $158.4m to $2.8bn in the 2010/2011 fiscal year, the data showed.