Egypt considers issuing bonds in Indian rupees worth US$500 million: Finance Minister

Egyptian Finance Minister Mohamed Maait said on Tuesday that his country is considering issuing bonds in Indian rupees next year, valued up to US$500 million.

In statements on the sidelines of participation in the activities of the COP28 conference held in  the UAE, he said that Egypt is also considering issuing a second “sukuk” tranche and issuing sustainability bonds ranging from $500 million to one billion dollars next year.

The International Monetary Fund confirmed its desire to increase the volume of financing provided to Egypt, he said, stressing that there is continuous communication and effort with the aim of completing the review soon.