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Egypt signed an expanded $3.1 billion financing deal with foreign banks as it continues to bolster foreign reserves and prepare for about $14 billion of foreign debt repayments in 2018 .Egypt repaid the $2 billion from the old deal on Nov. 9 .Under the arrangement, Egypt's Finance Ministry issued $4 billion in bonds on the Irish Stock Exchange last year, with the central bank buying them and using most as collateral for the repurchase agreement with lenders including Barclays Bank, HSBC and Deutsche Bank.External debt made up 34 percent of gross domestic product in June compared with 17 percent a year earlier, while servicing foreign debt made up 13 percent of annual current receipts, up from 10 percent.
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