Egypt sets sights on 2 bond issues early 2019

Egypt is aiming for at least two foreign currency bond issues in the first quarter of 2019, the finance minister has said.

Finance Minister Mohammad Maait declined to say exactly how much Egypt was seeking to raise. Previously he had said the target was about $5 billion (Dh18.36 billion).

“It can go up... it can go down. It depends on the moment of decision-making,” Maait said on the sidelines

Egypt is aiming for growth of 5.8 per cent in the current financial year that ends in June and for at least 6 per cent in 2019-20.

of a business conference.

Asked what currencies the bonds would be issued in, Maait only said: “It can be two or more... in the next quarter, we are planning for the first quarter of 2019.”

Maait also said Egypt was aiming for economic growth of 5.8 per cent in the current financial year that ends in June and for at least 6 per cent in 2019-20.