Egypt plans to issue up to $4 billion in international bonds over the next 12 months, according to Finance Minister Ahmed Kouchouk, who spoke to Bloomberg.

The upcoming issuances are part of the government's broader plan to bridge an $ 11 billion external financing gap, with the bonds expected to cover approximately 40% of the shortfall.

The remainder will be sourced through concessional financing, including low-interest loans and support from development partners.

Kouchouk stated that Egypt is exploring a diverse mix of instruments for the international market. These could include USD- and EUR-denominated bonds, green and sustainability bonds, Islamic sukuk, and potentially bonds denominated in Chinese yuan (CNY) and Japanese yen (JPY).

 This multi-currency approach is aimed at broadening the investor base and reducing dependence on a single funding channel.

According to Bloomberg, Egypt's existing USD bonds currently trade at an average yield of 9.3%, signaling high borrowing costs for any future dollar debt.

These initiatives come amid ongoing fiscal reforms and a broader push to stabilize Egypt’s macroeconomic environment, which has been under pressure due to high inflation, currency depreciation, and rising global interest rates.