Egypt targeting $9b in foreign financing in 2017-18 fiscal year
Egypt
Cairo - Arab Today
Egypt is targeting $9 billion in foreign financing in the 2017-18 fiscal year, Deputy Finance Minister Ahmed Kouchouk told Reuters on Wednesday.
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.
Source : Times Of Oman
- Wednesday ,28 November GMT 09:50 2018 Egypt, Saudi Arabia to strengthen economic ties in coming phase
GMT 10:58 2018 Sunday ,02 December
Egypt’s total public investments record EGP 72 bln in Q1GMT 09:50 2018 Wednesday ,28 November
Egypt, Saudi Arabia to strengthen economic ties in coming phaseGMT 17:19 2018 Sunday ,21 October
Egyptian, Tanzanian economic cooperationGMT 10:08 2018 Sunday ,21 October
Egypt selected guest of honour at German-Arab Business ForumGMT 07:52 2018 Tuesday ,16 October
Egypt's GFEC inks cooperation protocol with ChinaRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 13:33 2018 Thursday ,13 December
Assad discusses Syrian constitutional committee with Russian delegation
GMT 15:58 2018 Tuesday ,04 December
Multimedia works vie for Britain's 2018 Turner Prize for art
GMT 09:32 2018 Wednesday ,12 December
Huawei CFO gets bail; China detains ex-Canadian diplomat
GMT 13:27 2018 Monday ,17 September
Did Saddam kill the former Algerian foreign minister?
GMT 06:23 2019 Tuesday ,20 August
You find yourself facing new professional
GMT 13:11 2018 Sunday ,30 September
Egypt, Sudan FMs discuss bilateral ties, regional issues on the sidelines of the 73rd UN General Assembly
GMT 09:30 2017 Saturday ,04 November
If It's Your Birthday Today
GMT 19:41 2017 Tuesday ,18 July
Sisi calls for more efforts to complete SCzone infrastructure
GMT 13:02 2018 Tuesday ,04 December
French PM puts fuel tax hike on hold after protests
GMT 13:25 2018 Sunday ,11 November
Putin arrives at Arc de Triomphe in Paris for WWI Armistice ceremony
GMT 12:45 2018 Monday ,05 November
Egypt seeks to learn from China's expertise in sports economy, Olympics organization: minister
GMT 09:11 2016 Thursday ,07 April
Malaysia inquiry cites murky fund payments, urges probe
GMT 02:56 2016 Saturday ,19 November
As America shifts to SUVs, so does the Los Angeles Auto Show
GMT 11:01 2017 Wednesday ,06 September
Rogina describes her new film as “surprise”
GMT 09:26 2017 Friday ,03 November
Former Democratic chief: Clinton 'took control' of party
GMT 11:00 2017 Thursday ,05 January
Turkey detains business executives
GMT 11:46 2017 Sunday ,19 February
Layal Adnan confirms Yemeni legitimate government
GMT 08:52 2017 Sunday ,29 October
Truck bomb and gunmen kill at least 23 in hotel attack
GMT 11:46 2017 Friday ,10 November
Apple's $120 mn patent award from Samsung upheld
GMT 12:39 2016 Friday ,16 December
Nintendo shares dumped after Super Mario game release
GMT 14:24 2017 Thursday ,10 August
NRIAG urges Egyptians to follow up phenomenon of meteor fall
GMT 08:28 2017 Monday ,27 November
Ronaldo relieved as Madrid edge five-goal thriller
GMT 12:25 2018 Tuesday ,11 December
Settlers put up posters calling for targeting Palestinian president
GMT 13:20 2018 Wednesday ,31 October
Israeli settlers attack Palestinians near Ibrahimi Mosque
GMT 06:30 2018 Monday ,15 October
How is it possible not to ‘politicize’ the Syrian crisis?
GMT 07:41 2018 Thursday ,04 October
The Six: Designer hotels in the Gulf
GMT 05:01 2015 Wednesday ,08 July
India, Pakistan membership in SCO will be finalized in 2016
GMT 07:12 2018 Tuesday ,25 September
"Dodon" Constitution Court ruling on cabinet of ministers illegal
GMT 00:52 2016 Monday ,14 November
Syrian army destroys Jabhat al-Nusra fortifications, vehicles in Daraa
GMT 09:01 2015 Monday ,08 June
Putin to hold meetings over Pension Fund, Antimonopoly Service
GMT 17:11 2017 Monday ,17 April
Prince Harry almost had nervous breakdown after death of Princess Diana
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor