NO. 30


Financial and Banking News

Regional Financing

Egyptian Bond Issue Meets With Lukewarm Response

Egyptian investors appear to be keeping clear of the first issue oflonger-term government debt. The Arabic language daily al-Sharq al-Awsatreported on 18 April that only Eœ700 to Eœ800mn out of the Eœ3 bn of thefive-year bills had been subscribed for so far and that the four state-ownedcommercial banks were stepping in to take up the excess. The daily quotes aspokesman of...