Egypt considers issuing bonds in China’s yuan
- Date: 13-May-2022
- Source: Al-Monitor
- Sector:Financial Markets
- Country:Egypt
Egypt considers issuing bonds in China’s yuan
Egypt may soon sell bonds that are priced in China’s currency the yuan.
Minister of Finance Mohamed Maait made the announcement yesterday alongside the People’s Republic’s Ambassador in Cairo Liao Liqiang. The move would help diversify Egypt’s financial resources and target China’s large bond market, the state-owned Al-Ahram reported.
Bonds are a type of financial security that represent the holder’s obligation to repay the buyer. Governments issue bonds to help finance their expenses.
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