Egypt to sell as much as $7b international bonds in Q1

Cairo: Egypt plans to issue between $3 billion (Dh11 billion) and $7 billion (Dh25 billion) worth of international bonds in the first quarter of the year, Finance Minister Mohammad Maait said on Sunday.

The Cabinet has given “us the flexibility to issue what we need within this range” and also flexibility regarding the currencies, Maait said in an interview on the sidelines of an investor conference in Cairo. Maait said the government plans to sell the bonds in a range of currencies including the US dollar, euro, Japan’s yen and China’s yuan.