Dollar Bonds Will Not Be Issued To Repay Qatari Deposit; Will Be Paid On Time

Egypt’s central bank governor Hesham Ramez said that the currently available cash flows are sufficient to repay the Qatari deposit upon maturity next October, AlBorsa newspaper reported.

Ramez said that the reports regarding the Egypt’s intention to issue dollar bonds to repay were untrue.

He added that the central bank does not issue bonds except for project financing and that the cash flows are available to repay $500 million to Qatar in early October.

Qatar is expected to ask for $2.5 billion, the rest of the deposit, next November, Ramez revealed.

Source: AlBorsa newspaper & Arab Finance