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Egypt Eyes First Panda, Samurai, Sukuk Issuances

  • Talks with IMF on new engagement to reassure investors
  • Finance Minister Maait speaks in an interview in Washington
A section of a newly designed Japanese 1,000 yen banknote is displayed at a Japan Finance Ministry office in Tokyo.
Photographer: Toru Hanai/Bloomberg

Egypt is gearing up to issue its first Panda, Samurai, sukuk and green bonds in the fiscal year starting in July as it attempts to cut borrowing costs by diversifying funding sources, Finance Minister Mohamed Maait said.

The country raised $6.2 billion from dollar and euro bond markets in early 2019, but postponed plans to issue debt denominated in Japanese yen and Chinese yuan, sukuk and green bonds during the current fiscal year ending June 30 because it needs more time to prepare, Maait said in an interview in Washington.