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S&P’s upgrade of credit rating confirms Egypt is on right path: El-Garhy

Minister of Finance Amr El-Garhy welcomed the Friday decision of Standard & Poor’s (S&P) to raise Egypt’s credit rating to B from B-, stressing that this step confirms that the state is on the right path and asserts confidence in the Egyptian economic reform programme. El-Garhy added that the decision will contribute to attracting more …

Mohamed Samir

Egypt targets 4% deficit by 2022: El-Garhy

Egypt’s Minister of Finance Amr El-Garhy said that his ministry aims to reduce the budget deficit to 4% by 2022, while continuing the economic reform programme, according to state-owned Middle East News Agency. El-Garhy’s statement came on the sidelines of the launch event of the “system of tax returns, discount, and collection, with the activation …

Mohamed Samir

Deutsche Bank, BNP Paribas, Intesa Sanpaolo, Standard Chartered to arrange issuance of eurobonds this FY: El-Garhy 

Minister of Finance Amr El-Garhy announced, in a press statement on Monday, that four European banks were selected to promote and arrange the issuance of euro-dominated bonds this fiscal year (FY), adding that these banks are Deutsche Bank, BNP Paribas, Intesa Sanpaolo, and Standard Chartered. These banks are to issue euro-denominated bonds worth between €1bn …

Nihal Samir

Egypt to select banks to arrange issuance of eurobonds in 2 weeks

Minister of Finance Amr El-Garhy announced that Egypt will select the banks that will handle and manage the issuance of euro-denominated bonds within a period of two weeks, according to Reuters. El-Garhy said that Egypt expects issuing bonds between €1bn and €1.5bn in April, announcing that Egypt will start launching a promotional tour in several …

Daily News Egypt

Finance minister meets with $280bn investment fund leaders to discuss further opportunities

Finance Minister Amr El-Garhy is scheduled to meet  on Thursday with leading investment fund leaders with total assets under management of $280bn discuss with them further opportunities, according to a press release. El-Garhy, who is in Washington, D.C, will attend annual meetings of the IMF and the World Bank and will discuss Egypt’s latest macroeconomic developments …

Daily News Egypt

Investors welcome economic reforms in Egypt: CI Capital

CI Capital arranged one-on-one investor meetings for the Egyptian Finance Minister Amr El-Garhy in London on 26 April. Several meetings were held and attended by El-Garhy, alongside global fund managers who manage assets totalling $3.7tn. CI Capital stated that the positive outlook of investors on Egypt was strengthened by the economic reforms currently undertaken, illustrating the …

Daily News Egypt