Media ININ Economy We Trust
MediaIn – Cairo Agencies February 14,
The Egyptian Ministry of Finance announced the issuance of international bonds worth 4 billion dollars on three segments (5-10 – 30) years at good return prices in the light of orders exceeded $ 12 billion during the first hours of the announcement of the offering.
Egypt’s Minister of Finance, Amr Al-Jarhi, pointed to the high demand for participation in the US dollar bond issue, which was covered three times after the investors’ requests during the tender process, which reflects the confidence of the international community in the reform efforts of the Egyptian government.
He pointed out that the dollar bond proceeds will be directed to the Central Bank to support the dollar reserves, while the cash equivalent will be directed to the Egyptian pound to finance the activities of the general budget, pointing out that these dollar bonds is a mechanism of financing and help the government to diversify the sources of financing rather than just the domestic market.
