Egypt will offer dollar-denominated bonds between US$1.5 billion and $2 billion by the end of the current fiscal year, Finance Minister Hany Qadry Demian told the TV channel Al-Arabiya Monday.
Egypt plans to issue bonds denominated in foreign currencies, which will help to fund projects without straining the national economy, said Demian.
Egypt must be included on the map of investment, Demian said, adding, "We already started the IPO process for banks and law firms."
The Cabinet has begun to look into the law of bonds as a source that will fill the financing gap in Egypt, Demian mentioned.
The ministry also plans to conclude the legislative amendments of bonds by the end of the fiscal year, which ends in June.
Edited translation from Al-Masry Al-Youm