Gov’t begins procedures to issue USD 3-4 bn in eurobonds in January

The Ismail government has begun procedures to issue USD 3-4 bn in USD-denominated eurobonds in January 2018, Finance Minister Amr El Garhy told Reuters on Tuesday. The documents for the issuance were approved earlier this week, El Garhy added. A EUR 1-1.5 bn EUR-denominated issuance will follow later in February or March, El Garhy had said last week.

As for the USD 2 bn disbursement from the IMF, El Garhy said the Fund’s board will meet on the third week of December to approve the payment.