In a statement, the Ministry of Finance said Egypt had successfully maintained access to international markets despite geopolitical volatility, noting that the move reflects the country’s efforts to diversify financing instruments and broaden its investor base, News.az reports, citing Xinhua.
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The ministry said the new eight-year bond was issued at a yield of 7.6 percent and attracted strong confidence from international investors, with subscriptions exceeding the targeted issuance size by more than five times.
According to the statement, proceeds from the issuance will support the expansion of development financing to improve healthcare and education services and to boost investment in human capital.
The ministry stressed that Egypt is repaying more debt than it is borrowing to reduce the external debt balance of budget entities, adding that the government aims to reduce the debt by 1 to 2 billion dollars annually.
It also noted that proactive management of geopolitical tensions and global challenges has strengthened investor confidence and increased demand for Egyptian issuances, adding that securing sustainable external development financing further supports market confidence.
Egypt has been facing capital-flow pressure, heightened inflation, and currency fluctuations since the start of the U.S.-Israeli war on Iran on Feb. 28.
