Egyptian government to issue $2 billion bonds

Published April 23rd, 2001 - 02:00 GMT

The Egyptian government has decided to launch a $2 billion dollar-denominated bond issuance, reported Al-Hayat newspaper. According to the report, the maturity period of these bonds ranges between 5 and 30 years and is soon to be implemented.  

 

The goals of this issuance are to bridge the gap in the treasury’s revenues as well as to decrease the budget deficit. Egypt’s Minister of Treasury, Medhat Hassanein, said that the treasury would guarantee these bonds, which offer a tax-free yield. –(Albawaba-MEBG) 

© 2001 Mena Report (www.menareport.com)


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