Egypt Wins 1st Prize For Issuing Creditworthiness Bonds With Lower Ratings

Finance Minister Hany Kadry said on Saturday 21/11/2015 that Egypt’s winning the first prize for issuing creditworthiness bonds with lower investment ratings reflects international financial institutions’ appreciation to Egypt’s government, led by President Abdel Fattah El Sisi.

In a press release, the minister said the prize comes after Egypt’s recent efforts to reform its economy in order to redress public budget’s deficit.

Egypt won the prize during an international financial conference held in Dubai of UAE.

Kadry added that the Egyptian government is working on developing the investment atmosphere in order to encourage domestic private sector as well as attracting foreign investments to contribute to infrastructure, energy, transportation and housing projects.

Source: State Information Service