Cairo – Mubasher: Egypt’s Ministry of Finance (MoF) has no plans to issue debt instruments worth EGP 64 billion to repay Suez Canal certificates of deposit, the cabinet’s media centre said.
The media centre denied reports published about the ministry’s inability to pay the holders of Suez Canal certificates the principal on their investment and that the holders will be forced to direct their investments to new savings schemes, affirming that the payment will be made on the due date.
In addition, the Central Bank of Egypt (CBE) noted that the repayment of the Suez Canal certificates will be made between 5-16 September.
In 2014, banks offered the five-year Suez Canal certificates, raising EGP 64 billion in eight working days.
