- Minister of Finance, Mohamed Maait Egypt has disclosed that Egypt proposes to issue bonds in Chinese yuan
Minister of Finance, Mohamed Maait Egypt has disclosed that Egypt proposes to issue bonds in Chinese yuan – Panda worth more than $500 million. Speaking at a conference to present the financial performance indicators for the current fiscal year’s budget, Maait added that international markets are currently risky in terms of liquidity and cost. Yet the country is ready to issue sovereign Sukuk of about $1.5 to $2 billion. Despite the global economic crisis posed by the Ukraine war, the Ministry of Finance, Egypt announced the return to the international bond markets.
The Ministry of Finance claimed that Egypt is the first country to issue international bonds denominated in Japanese yen currency in Japanese markets. The transactions will be managed by the Japanese multinational banking and financial services institution Sumitomo Mitsui Banking Corp. The yen-denominated five-year debt is expected to offer a yield of between 0.80 percent and 0.85 percent.
Also read;
https://trendsnafrica.com/egypt-may-get-another-round-of-funding-from-imf/
https://trendsnafrica.com/ebrd-may-finance-egypt-more-than-one-billion-euros-in-view-of-cop27/
