Deputy Minister of Finance for Monetary Policies and Institutional Development Ahmed Kojak said that the government targets to collect foreign finances worth $9bn in the coming fiscal year. Kojak told Daly News Egypt that the finances are divided into $3bn from international debt markets and EGP 5bn to 6bn through international financial institutions. Egypt collected $18.5bn dollars since the end of last summer through a package of bilateral loans, currency swap agreements, loans from multilateral financial institutions, and sale of bonds in international markets. He said that all financing tools are available so that the government can depend on them. Those include samurai bonds, panda bonds, and sukuk, but he stated they would resort to less expensive tools.

Source: Daily News Egypt March 22, 2017 15:33 UTC