September 19, 2017 / 8:13 AM / 10 months ago

Egypt to determine Eurobond currency, issuance date in 2 weeks - finance minister

CAIRO, Sept 19 (Reuters) - Egypt expects to determine the currency of its next Eurobond issuance within two weeks, finance minister Amr El-Garhy told Reuters on Tuesday.

Garhy said the ministry is looking to issue Euro-denominated Eurobonds to fulfill short-term obligations and to diversify its currency basket.

The finance minister also said he expected Egypt’s growth rate to reach 4.75-5.0 percent in the first quarter of the fiscal year 2017-2018, and its inflation rate to drop below 15 percent by the fiscal year’s end. (Reporting by Ehab Farouk; Writing by Nadine Awadalla; Editing by Hugh Lawson)

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