Egypt wants more market stability before Eurobond issue – minister

Egypt is considering plans for a Eurobond issue but wants to see more stability in global financial markets before it goes ahead, Egyptian finance minister Amr El-Garhy said on Saturday.

“We want to find the right time and we hope to do this in the next few days,” Garhy told Reuters on the sidelines of a financial conference in Dubai, when asked if this week’s swings in global markets could affect the planned issue.

“We need to see more stability,” he added.

The issue is expected to be around three billion to five billion dollars in size, he said.