Egypt to determine Eurobond currency, issuance date in 2 weeks — finance minister

CAIRO

Egypt expects to determine the currency of its next Eurobond issuance within two weeks, finance minister Amr Al Garhy told Reuters on Tuesday.

Al Garhy said the ministry is looking to issue Euro-denominated Eurobonds to fulfil 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 per cent in the first quarter of the fiscal year 2017-2018, and its inflation rate to drop below 15 per cent by the fiscal year’s end.