The Clap
The Egyptian government has announced a plan to issue $1 billion in treasury bills & $2.5 billion in sharia-compliant bonds.
What
Treasury bills & sharia-compliant bonds are ways for governments to borrow money in return for paying periodic payments & eventually returning the principal amount.
So what
The government is looking to decrease the financing gap, as Egyptian debt instruments became more attractive to foreign investors following the devaluation of the Egyptian pound & higher interest rates.
Now what
The government is currently preparing the issuance & determining the international institutions that will participate.
