Cairo – Mubasher: A number of Egyptian ministers will be heading some of the Asian and the GCC markets next week for a roadshow to promote the country’s upcoming debt issuances and attract foreign investments, a top official said.
The roadshow comes as part of the government’s new debt strategy that aims at attracting investors to invest in local debt instruments and cut the state’s public debt, the source told Enterprise.
The ministers are set to meet with a number of officials and investors in Asia and the Gulf under the roadshow, according to the source.
The government will also reveal plans for issuing sovereign sukuk for the first time in the coming fiscal year, the source added.
A government source previously told Enterprise that the Ministry of Finance (MoF) could issue international sukuk for the first time in fiscal year 2019/2020 at a value of $1 billion to $1.5 billion as an Islamic bond pilot issue to measure investors’ interest in such financing instrument.
In February, the MoF announced the issuance of Eurobonds worth $4 billion with maturities of five years, 10 years, and 30 years.