The state is eyeing longer debt maturities: The Madbouly government aims to extend the average maturity of its debt instruments to 4.5-5 years as it focuses on longer-term bonds, Finance Minister Mohamed Maait told Asharq Business (watch, runtime: 12:54) on the sidelines of the IMF and World Bank spring meetings in Washington. The average maturity of government securities is expected to see a marginal increase by the end of the current fiscal year to 3.3 years, up from 3.2 years in the previous fiscal year, Maait added.

No deferred payments: Maait dismissed claims that authorities were looking to delay interest payments on domestic debt securities, adding that all dues were paid on time as the government has been committed to meeting all of its local and foreign debt obligations “even in difficult times.”

International bond issuances are still on hold: The government has not yet decided whether to tap the international debt market in the next fiscal year, Maait said, adding that the ministry will begin looking into the matter within the first two months of the next fiscal year — which starts in July. If the government does decide to tap foreign debt markets, foreign issuances will account for only a small portion of its debt portfolio, he added.

ICYMI: Maait said at a presser last month that the Finance Ministry is not planning to seek out foreign debt markets or issue any international bonds before the end of the current fiscal year set to end this June.

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