(MENAFN) Egyptian Finance Minister Mohamed Maait announced on Monday the country to be planning to float international bonds valued between USD3 billion and USD7 billion.
While aiming to achieve diversity in its currencies, Egypt will issue the international bonds in the fiscal year 2019-20, as the finance minister affirmed.
Ratio of debt to gross domestic product (GDP) in Egypt has been struggling with a downward trend, the minister noted, calling for it to hit 77.5 percent by June 2022.
Maait noted "we would love to go for yuan and yen," adding: "we tried last year, but there are a lot of requirements. We couldn't get all the requirements done. If we can do it this year, we would love to see Egypt going to these markets."
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