Debt Profile Deteriorating

Recent statements from Egyptian officials surrounding the government's intention of relying on local markets to meet its financing requirements underpin our view that the country's debt dynamics are set to deteriorate over the coming quarters. On September 7, Finance Minister Hazem el-Beblawi stated that Egypt had no plans of issuing an international bond, and would instead raise financing for its burgeoning budget deficit through increased issuance of domestic debt.

To read the full article, please choose one of the following options: