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Egypt to determine Eurobond currency، issuance date in 2 weeks: finance minister

Tuesday 19/September/2017 - 11:52 AM
Sada El Balad
Egypt expects to determine the currency of its next Eurobond issuance within two weeks، finance minister Amr El-Garhy told Reuters on Tuesday.

Garhy said the ministry is looking to issue Euro-denominated Eurobonds to fulfill short-term obligations and to diversify its currency basket.

The finance minister also said he expected Egypt’s growth rate to reach 4.75-5.0 percent in the first quarter of the fiscal year 2017-2018، and its inflation rate to drop below 15 percent by the fiscal year’s end.

Noteworthy، Foreign investors are heading back to Egypt after the government implemented a string of reforms، helping drive the Egyptian pound up more than 10 per cent against the dollar and easing a foreign currency crisis، Financial Times reported last February.

edited by: Basant Ahmed

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