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Egypt plans to issue a new Eurobond in the third quarter of the current financial year, between January and March 2018, Minister of Finance Amr el-Garhy announced Thursday.
“The exact value of the potential issue is not known yet.” el-Garhy told Amwal Al Ghad.
Garhy said Wednesday that Egypt was considering a $4-$5 billion in international bond offering in the current financial year 2017-2018.
The country has sought a variety of funding sources to plug its financing needs as it pushes through ambitious economic reforms that include subsidy cuts and tax hikes as part of a three-year $12 billion IMF programme widely praised by economists and investors.
