Egypt to delay second international bond issuance – minister

Egypt will delay its second international bond issuance, which was initially scheduled for November, the finance minister said on the sidelines of a conference Monday.

“After we announced our intention there was some turbulence following turbulence in the Chinese financial market that had a negative effect on liquidity in the global markets in general, especially on investors who intended to invest in growing markets,” Finance Minister Hany Kadry Dimian said.

“So we found that it is for the best to delay our issuance.”

source: Reuters