Egyptian Treasury Minister promotes $2 billion bonds issuance
The Deputy Governor of the Egyptian Central Bank, Mahmoud Abu Al-Oyoun, and the Egyptian Minister of Treasury, Medhat Hassanein, will soon begin a tour to promote a $2 billion denominated bonds issuance, reports Al-Hayat daily.
The visit will include the United States, England, Germany and the Netherlands. Egypt hopes that the bond issuance will ameliorate Egypt’s standing in global financial markets.
Furthermore, Hassanein stated that Egypt needs a yearly cash inflow of $5 billion to reach its desired annual growth rate of six percent. He added that the treasury carefully monitors foreign debt volume, warning the private sector when debt accounts become excessive and must be repaid. —(MENA Report)
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