September 25, 2018 / 9:36 PM / 8 months ago

Egypt to tour Asian, European markets to prepare for global bond issue -finance minister

CAIRO, Sept 25 (Reuters) - Egyptian officials plan to launch Asian and European tours starting in the week after next to market international bonds, which will be offered when the time is right, Finance Minister Mohamed Maait said on Tuesday.

Speaking at a business events in Cairo, Maait also said that an official IMF delegation was due in Cairo in the second half of October and that the result of its compliance review with its 2016 reforms programme will be announced in December.

He said the government was working on economic restructuring plans that aim to reduce public debt to 70 percent within four years.

Maait also said that Cairo was ready to implement an oil hedging policy but wants to wait until the market cools off.

Reporting by Ehab Farouk; Writing by Sami Aboudi

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