Finance Minister Amr al Garhy announced on Wednesday plans to issue dollar-dominated bonds worth $2.5 billion to $3 billion to the international debt markets in the forthcoming period, Youm7 reported.
The move aims to “luring fresh foreign capital inflow to boost Egyptian resources and to get financing from the external market in light of the recent improvement in international assessments for Egypt’s economy,” Garhy said.
The minister did not disclose the exact issuance date.
In January, Egypt’s Cabinet approved a proposal from its Economic Committee to issue dollar-denominated foreign bonds valued at $1.5 billion in the global market.
