Egypt raised $4bn in international bonds on 20 February, the country’s largest issue since a similar $4bn a year earlier (MEES, 16 February 2018). Egypt raised a further €2bn ($2.5bn) last April.

The finance ministry says the bond will help plug the country’s budget deficit which was E£186.7bn ($10.4bn) for the first six months of the 2018-19 financial year (July-December 2018), more or less unchanged from the E£187.3bn ($10.6bn) for the first half of the previous 2017-18 financial year. (CONTINUED - 487 WORDS)