{"id":648989,"date":"2017-04-19T03:59:48","date_gmt":"2017-04-19T03:59:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/"},"modified":"2017-04-19T03:59:48","modified_gmt":"2017-04-19T03:59:48","slug":"new-debt-issuance-keeping-interest-rates-high-for-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/","title":{"rendered":"New debt issuance keeping interest rates high for Egypt"},"content":{"rendered":"

<\/a> A \u201cflood of new issuance is offsetting foreign-investor demand for Egyptian <\/strong>debt, keeping yields among the highest in emerging markets,\u201d<\/strong> Ahmed Namatalla writes for Bloomberg<\/a>. The Finance Ministry says offshore investors increased their holdings of Egyptian treasuries to EGP 79 bn at the March, Namatalla writes, adding that government borrowing is already 11% higher than target this year and 18% over budget. \u201cHigh interest rates are a temporary side-effect, without which the [EGP] float wouldn\u2019t have achieved its purpose of attracting foreign capital \u2026 they\u2019ve put Egyptian assets back on the investment map. So, for foreigners, it makes sense to rush to get a piece of the pie,\u201d CI Capital economist Hany Farahat says. However, Farahat added that he expects the budget deficit in FY 2016-17 to come at 12%, higher than the government\u2019s projection of 10.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"

A \u201cflood of new issuance is offsetting foreign-investor demand for Egyptian debt, keeping yields among the highest in emerging markets,\u201d Ahmed Namatalla writes for Bloomberg. The Finance Ministry says offshore investors increased their holdings of Egyptian treasuries to EGP 79 bn at the March, Namatalla writes, adding that government borrowing is already 11% higher than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648989","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f5b3cabc-44fa-4f19-9a95-c995eb264810","order":"0","is_powered_by":true,"section_story_id":"f281e5d1-d519-4bc7-829c-9b0b0b441931","story_type":"1","photo_url":"","photo_position":"above","related_issue":[648981],"teaser":"","voice_url":""},"yoast_head":"\nNew debt issuance keeping interest rates high for Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New debt issuance keeping interest rates high for Egypt\" \/>\n<meta property=\"og:description\" content=\"A \u201cflood of new issuance is offsetting foreign-investor demand for Egyptian debt, keeping yields among the highest in emerging markets,\u201d Ahmed Namatalla writes for Bloomberg. The Finance Ministry says offshore investors increased their holdings of Egyptian treasuries to EGP 79 bn at the March, Namatalla writes, adding that government borrowing is already 11% higher than […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-19T03:59:48+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"New debt issuance keeping interest rates high for Egypt\",\"datePublished\":\"2017-04-19T03:59:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\"},\"wordCount\":143,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/19\/new-debt-issuance-keeping-interest-rates-high-for-egypt\/\",\"name\":\"New debt issuance keeping interest rates high for Egypt - 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He\u2026","rel":"","context":"In "Speed Round"","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":594319,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/egypt-to-be-the-regions-star-performer-in-2020-capital-economics\/","url_meta":{"origin":648989,"position":1},"title":"Egypt to be the region\u2019s \u201cstar performer\u201d in 2020 -Capital Economics","author":"enterpriseam admin","date":"27 October 2019","format":false,"excerpt":"Egypt to be the region\u2019s \u201cstar performer\u201d in 2020 -Capital Economics: Egypt will be the MENA region\u2019s \u201cstar performer\u201d in 2020 as the central bank continues to cut interest rates and the government loosens fiscal policy, William Jackson, chief EM economist at Capital Economics, wrote on Thursday. GDP will grow\u2026","rel":"","context":"In "Speed Round"","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\/660.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651014,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/02\/central-bank-receives-eurobond-proceeds-issuance-signals-trust-in-egypts-reforms\/","url_meta":{"origin":648989,"position":2},"title":"Central bank receives eurobond proceeds, issuance signals trust in Egypt\u2019s reforms","author":"enterpriseam admin","date":"2 February 2017","format":false,"excerpt":"The Central Bank of Egypt netted USD 4 bn on Tuesday as it collected the proceeds from the eurobond issuance last week, Central Bank Governor Tarek Amer said, according to Reuters. Given that Tuesday was the last day of January, we expect that the bond proceeds will be reflected in\u2026","rel":"","context":"In "Speed Round"","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":652244,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/04\/govt-borrowing-to-rise-8-5-in-third-quarter-bias-toward-short-term-instruments\/","url_meta":{"origin":648989,"position":3},"title":"Gov\u2019t borrowing to rise 8.5% in third quarter, bias toward short-term instruments","author":"enterpriseam admin","date":"4 January 2017","format":false,"excerpt":"Government borrowing will rise about 6.4% in the third quarter of the current state fiscal year to EGP 229 bn, according to Al-Borsa, which notes the Finance Ministry will be shifting toward short term instruments to finance the deficit \u2014 a logical move, says CI Capital analyst Hany Farahat, in\u2026","rel":"","context":"In "Speed Round"","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":622212,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/cbe-to-terminate-forex-repatriation-mechanism-on-4-december\/","url_meta":{"origin":648989,"position":4},"title":"CBE to terminate forex repatriation mechanism on 4 December","author":"enterpriseam admin","date":"29 November 2018","format":false,"excerpt":"The central bank is going to scrap its special foreign exchange repatriation mechanism next week: The central bank will terminate the foreign exchange repatriation mechanism for new portfolio investments starting 4 December, it said in a statement (pdf) that pointed to broadly improved macroeconomic indicators, including an improved foreign reserves\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569745,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/05\/egypts-echem-planning-egp-1-bn-sukuk-issuance\/","url_meta":{"origin":648989,"position":5},"title":"Egypt\u2019s ECHEM planning EGP 1 bn sukuk issuance","author":"enterpriseam admin","date":"5 March 2020","format":false,"excerpt":"DEBT WATCH- ECHEM planning EGP 1 bn sukuk issuance: The Egyptian Petrochemicals Holding Company (ECHEM) is considering issuing EGP 1 bn-worth of sukuk to help finance its subsidiaries\u2019 ongoing projects, Al Shorouk reported, citing company sources. 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