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Egypt Plans Eurobond Sale to Ease Pressure on Reserves
CAIRO, Egypt, Capital Market in Africa — Egypt plans to tap international bond markets in the second quarter this year, Prime Minister Sherif Ismail said, in order to preserve foreign reserves amid a slowing global economy. Egypt has approved a bond-issuance program of up to US$10 billion, and in June 2015, it raised US$1.5 billion of Eurobonds as part of the program. The government plans to issue another US$1.5 billion in the fourth quarter of 2015 but…
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