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بوابة الفجر
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Egyptian Debt Rise Over 45 Years
The Management of the National Investment Bank has finalized a settlement of the debt owed by the National Media Authority (Maspero), which had accumulated over 45 years. The total amount now stands at 88.3 billion Egyptian pounds after canceling late fees and penalties amounting to 51.4 billion pounds. The debt originates from a loan obtained by the Radio and Television Union in 1981, valued at 9.6 billion pounds. As of 2021, the debt of the National Media Authority reached 42.6 billion pounds, including the original loan amount and unpaid interest. An agreement was signed in August 2026 that includes transferring ownership of unused assets valued at 18.06 billion pounds, utilizing state-owned lands to settle the remaining debt, and releasing the mortgage on shares in the "NileSat" and "Media Production City" companies. Officials stated that this settlement will end the largest financial crisis in the history of Egyptian media, enabling Maspero to regain its financial strength and prepare for future developmental projects.
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