New international bonds to be issued in May

Finance Minister Hany Qadry said on Sunday that Egypt will issue new international bonds to be offered in the international stock markets by the end of May.

This came during Qadry's meeting with a number of investors on the sidelines of the Spring Meetings of the World Bank and International Monetary Fund, now held in Washington.

He added that the law of instruments (Sukuk) is being revised now.

Qadry noted that a number of investment banks lauded this step, especially after the success of the Egypt Economic Development Conference, which wrapped up in Sharm el Sheikh a month ago.
Source: MENA