“The implementation has already started and some of these assets are going to the market next month,” Maait told Bloomberg on the sidelines of a financial conference in Riyadh
Maait added that the country’s first-ever issuance reflects the global capital market’s confidence in the Egyptian economy
Maait added that the Arab Trade Financing Program (ATFP) and the joint payment mechanism stimulate intra-trade between Arab countries
Egypt has been working on developing its production and export sector to reach its goal of $100 billion in exports
Citing the recent devaluations of the EGP, S&P expects “confidence in the currency’s short-term price to improve, and for the private sector, banks and businesses to increase trade in USD”
