{"id":600593,"date":"2019-02-04T03:40:50","date_gmt":"2019-02-04T03:40:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/egypts-short-term-usd-debt-down-by-usd-3-25-bn-to-usd-14-bn\/"},"modified":"2019-02-04T03:40:50","modified_gmt":"2019-02-04T03:40:50","slug":"egypts-short-term-usd-debt-down-by-usd-3-25-bn-to-usd-14-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/egypts-short-term-usd-debt-down-by-usd-3-25-bn-to-usd-14-bn\/","title":{"rendered":"Egypt\u2019s short-term USD debt down by USD 3.25 bn to USD 14 bn"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <b>Egypt\u2019s short-term USD debt down by USD 3.25 bn to USD 14 bn: <\/b>The government used part of proceeds from the sale of treasury bonds to settle USD 3.25 bn-worth of short-term USD-denominated debt, Vice Minister of Finance Ahmed Kouchouk said, adding that total outstanding figure stood at USD 14 bn by December-end, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/release-a-3-2-2019.aspx\">according to a ministry statement<\/a>.<\/p>\n<p><b>The EGP received a boost from foreign portfolio investors last week<\/b>, who <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/30\/take-note-fx-watchers-the-carry-trade-is-back-in-egypt\/\">scooped all 5-year bonds<\/a> in auctions last week, raising their holdings in Egypt\u2019s debt to USD 12 bn, according to <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/31\/egp-to-remain-stable-through-2019-says-goldman-sachs\/\">statements to the press by government sources<\/a>. This bodes well for the Finance Ministry as it prepares to sell between USD 3-7 bn in USD- and EUR-denominated bonds sometime in the coming few months. Officials have said they will also sell green and JPY-denominated bonds sometime this year.<\/p>\n<p><b>Egypt\u2019s gains last month were part of the best month for EM inflows in a year: <\/b>Investors ploughed USD 51.1 bn into emerging market stocks and bonds in January, making it the best month of inflows in a year,according to an emailed report from the Institute of International Finance. Non-resident investors put USD 33 bn into emerging market bonds (compared to just USD 5.4 bn in December), with debt issued by Asian and Latin American countries proving particularly attractive. \u201cA decisively dovish Fed has provided a fresh source of impetus for a bounce in emerging markets,\u201d JPMorgan analyst Saad Siddiqui <a href=\"https:\/\/www.reuters.com\/article\/emerging-markets\/emerging-markets-emerging-market-stocks-fx-set-to-gain-for-the-week-idUSL3N1ZW2XN\">said in a separate letter to clients<\/a>. \u201cThe Fed dropping any bias towards hiking rates and softening the rhetoric on balance sheet policy is significant for EM assets and paves the way for an extended bounce,\u201d he wrote.<\/p>\n<p><b>EM shares hit five-month high: <\/b>Emerging market shares<a href=\"https:\/\/www.reuters.com\/article\/emerging-markets\/emerging-markets-emerging-market-stocks-fx-set-to-gain-for-the-week-idUSL3N1ZW2XN\">hit their highest level<\/a> in five months at close on Friday on the back of optimism over US-China trade talks. The MSCI emerging market index closed 0.1% up, capping a month in which IIF figures show USD 18 bn was invested into emerging market stocks \u2014 over half of which (USD 9.2 bn) went into China.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt\u2019s short-term USD debt down by USD 3.25 bn to USD 14 bn: The government used part of proceeds from the sale of treasury bonds to settle USD 3.25 bn-worth of short-term USD-denominated debt, Vice Minister of Finance Ahmed Kouchouk said, adding that total outstanding figure stood at USD 14 bn by December-end, according to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":600594,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[7106,72,7087,1318,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-600593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-debt","tag-enterpriseam","tag-finance","tag-fiscal-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"07ac3e07-5f12-47ae-bf0a-847b59794f6e","is_powered_by":true,"section_story_id":"bf80f461-608c-4fc0-97dd-3ab1460771aa","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/2959.jpg","photo_position":"above","related_issue":[600585],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The auction will finish on Tuesday when around USD 1.1 bn worth of dollar-denominated bonds will mature. Vice Finance Minister Ahmed Kouchouk said earlier this year that the Finance Ministry is\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597949,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/finmin-could-take-egypts-first-sovereign-sukuks-to-market-by-early-2020-looks-to-hike-cap-on-eurobond-issuances-through-fy2021-2022\/","url_meta":{"origin":600593,"position":1},"title":"FinMin could take Egypt\u2019s first sovereign sukuks to market by early 2020, looks to hike cap on eurobond issuances through FY2021-2022","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"EXCLUSIVE- Egypt could take to market its maiden issuance of sovereign sukuks in early 2020, a senior government official tells us. Finance Ministry officials have met with executives from Abu Dhabi Islamic Bank and other GCC-based institutions to learn more about the process and the target markets. The ministry will\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/1783.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599883,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/finmin-heads-east-ahead-of-egypts-bond-issuances\/","url_meta":{"origin":600593,"position":2},"title":"FinMin heads east ahead of Egypt\u2019s bond issuances","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"Maait heads to Asia to pave the way for bond issuances: Finance Minister Mohamed Maait will begin a trip today that will see him visit Japan, South Korea, Hong Kong and China to discuss bond issuances. The government is now more flexible and is seeking to diversify \u201cthe currency, the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593048,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/egypt-successfully-closes-usd-2-bn-triple-tranche-eurobond-issuance\/","url_meta":{"origin":600593,"position":3},"title":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"Egypt successfully closes USD 2 bn triple-tranche eurobond issuance in first int\u2019l debt auction for FY2019-2020: Egypt sold USD 2 bn-worth of four-, 12-, and 40-year USD-denominated eurobonds in an issuance that went to market on the Luxembourg Stock Exchange on Thursday, the Finance Ministry said. The offering was more\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/738.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598347,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/egypts-domestic-debt-rises-20-in-2018\/","url_meta":{"origin":600593,"position":4},"title":"Egypt\u2019s domestic debt rises 20% in 2018","author":"enterpriseam admin","date":"22 May 2019","format":false,"excerpt":"Egypt\u2019s domestic debt rose 20.25% y-o-y to EGP 4.1 tn at the end of December 2018 compared to EGP 3.4 tn in the previous year, according to central bank data (pdf). The country\u2019s domestic debt-to-GDP ratio reached 78.2%, up from 77% a year earlier. Figures released last week showed that\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559926,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/09\/egypt-sells-usd-3-75-bn-of-eurobonds-in-first-intl-debt-sale-of-2021\/","url_meta":{"origin":600593,"position":5},"title":"Egypt sells USD 3.75 bn of eurobonds in first int\u2019l debt sale of 2021","author":"enterpriseam admin","date":"9 February 2021","format":false,"excerpt":"Egypt sold USD 3.75 bn in USD-denominated eurobonds yesterday at \u201csignificantly lower\u201d yields than recent issuances, Reuters reports, citing a document from one of the banks working on the debt sale. Press reports had emerged last year suggesting that Egypt was planning a USD 3-4 bn EUR- or USD-denominated eurobond\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/151.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=600593"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/600593\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/600585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/600594"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=600593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=600593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=600593"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=600593"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=600593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}