A Central Bank statement said the transaction "represents a strong vote of confidence from the financial markets" in Egypt`s future.
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Egypt secures $2 billion dollars ahead of IMF bailout
10 November 2016
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Egypt`s Central Bank is bolstering the country`s foreign reserves by securing $2 billion dollars in international funding, hours before the International Monetary Fund`s board meets to approve Egypt`s $12 IMF billion loan.
The bank said on Thursday that a "consortium of international banks" had agreed to purchase $2 billion worth of newly issued sovereign bonds with maturity dates ranging from December 2017 to November 2028. The bonds are listed on the Irish stock exchange.
A Central Bank statement said the transaction "represents a strong vote of confidence from the financial markets" in Egypt`s future.
A Central Bank statement said the transaction "represents a strong vote of confidence from the financial markets" in Egypt`s future.
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