Egypt Targeting $9 Bln in Foreign Financing in FY 2017/18Source: www.export-egypt.com 3/22/2017, Location: Africa |
|
|
|
|
|
The financing will be divided between $3 billion obtained from debt markets and $5 billion to $6 billion from international finance institutions
Egypt is targeting $9 billion in foreign financing in the 2017/18 fiscal year, Deputy Finance Minister Ahmed Kouchouk told Reuters
. The financing will be divided between $3 billion obtained from debt markets and $5 billion to $6 billion from international finance institutions, he said. . Egypt agreed with the International Monetary Fund in November on a $12 billion, three-year loan programme to support government efforts to reduce its budget deficit and balance its currency market. . The finance minister said last week he expects Egypt to receive the second tranche of this loan, expected to be $1.25 billion, in May or June. Egypt is also expected to receive additional tranches of loans from the World Bank and African Development Bank in 2017/18, which together would total $1.5 billion. Kouchouk said the $3 billion from debt markets could come in the form of Eurobonds denominated in dollars or other currencies as well as Sukuk. He did not say when Egypt was likely to tap debt markets during the coming fiscal year, which begins in July. Egypt raised $4 billion in sales of Eurobonds earlier this year at lower-than-expected yields, with demand for the bonds high. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
