Cairo – Mubasher: Egypt is examining the issue of international bonds worth between $1.5 billion and $2 billion within the next few weeks, Egypt's minister of finance, Amr El-Garhy, said to CBC channel on Saturday.
The Egyptian government had announced this month that it had agreed to increase the maximum issue of international bonds of $5 billion by not more than $2 billion.
In January, Egypt sold $4 billion in international bonds over three tranches.
The average interest rates on the government treasury bills increased over 19%, and the Central Bank of Egypt (CBE) had raised interest rates by 3% at once during November 2016, in line with the Egyptian pound's flotation.
Egypt's foreign reserves rose to $28.5 billion in March 2017, recording their highest level since March 2011.
The CBE stated that total foreign debt increased 41% year-on-year in the first half of fiscal year 2016/2017 to $67.3 billion.
