Egypt to issue Eurobond by end of May: minister
Ahram Online, Sunday 19 Apr 2015
Aiming to raise $2bn to help reduce the state budget deficit, Egypt's government will issue international bonds starting at the end of next month


Egypt plans on issuing international bonds by the end of May, Minister of Finance Hany Qadri announced Sunday during a meeting with investors.

In February, the finance ministry said it could raise as much as $2 billion through a Eurobond in 2015 as a means to fill the financial gap in the state budget.

Egypt's state deficit is projected to reach 11 percent in the fiscal year 2014/15, and is to be financed through local debt and petroleum shipments from the United Arab Emirates in addition to the international bonds.

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