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Egypt faces three interlinked problems: an urgent balance of payments problem, rising public debt, and the long-standing issue of low growth and high unemployment the IMF says this week. This comes as Egypt launches its roadshow for a long-awaited $2-2.5bn Eurobond issue. The roadshow starts in the UAE, before moving on to the US and the UK where it is set to conclude on 24-25 January.
The issue, originally due to be launched last October, was postponed because of market volatility, Finance Minister Amr al-Garhy says. The roadshow, covering leading investment banks and funds, has the added aim of promoting Egypt to potential foreign investors, Deputy Finance Minister Ahmad Kojak says. (CONTINUED - 1704 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Egypt’s Foreign Reserves Up $9bn On Mid-2016 Low After November Aid Deposits ($Bn, End Period)|
|chart||Egpc’s Dues To Foreign Oil Operators ($Bn,End Period)|