BNP Paribas said it does not expect Egypt to issue dollar bonds (euro bonds) before the fourth quarter of 2018.
The bank’s comment came in a report it issued today about the ongoing discussions during the autumn meetings of the International Monetary Fund and the World Bank during the period from 21 to 23 April.
Egypt implemented its largest issuance of dollar bonds in January for $4bn within the government’s plan to bring together resources to fill the growing dollar gap. Amr El Garhy, the Minister of Finance, said on Saturday in a phone call to CBC that the government plans to attract dollar resources through increasing the value of the recent euro bonds.
“We have a chance over the few upcoming weeks to reopen the bonds we issued before, worth $1.5-$2bn,” El Garhy said.