By: Mustafa Adel
Cairo – Mubasher: Egypt is set to request bids from international institutions as of 1 August to arrange an international bond issuance, deputy finance minister for monetary policy, Ahmed Kojak, said on Thursday.
During a press conference, Kojak said that the Egyptian government agreed on offering USD bonds as of September with an interest rate of 7%.
Kojak added that Egypt plans to repay about $8 billion external debts during the current fiscal year.
Egypt’s external debt rose by 34% in the period between July 2015 and March 2016, according to figures by the Central Bank of Egypt.
Translated by: Elwy el-Manzalawy
