Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Egypt plans to renew a $2 billion financing deal with international banks while also developing alternative sources of funding such as issuing dollar-denominated Eurobonds, Finance Minister Amr al-Garhy said.The IMF is likely to provide another $4 billion in two tranches of financing before the fiscal year ends in June, Garhy said. Egypt agreed in 2016 to a three-year $12 billion IMF loan program.Bond sales, the IMF loans and foreign investment in Egyptian Treasury bills are central to the government's plans to finance the deficit, which is set to narrow to 9.5 percent of gross domestic product during the current fiscal year.
FOLLOW THIS ARTICLE