Floating up Egyptian bonds in world markets

ArabicNews.com learned that the Egyptian government has decided to issue financial bonds in dollars varying between $250 and $300 million for the Egyptian government, on the basis that these funds will not be used for purposes of financing governmental projects but for activating the private sector with the aim of luring foreign investments to Egypt and compensating for the shortage in local savings and foreign transfers.

These bonds will help in reducing the cost of offering loans to the Egyptian private sector from international markets according to the interest rate when these bonds can be used as guarantees for paying the Egyptian private sector to its foreign debts.