Egypt plans to issue a $2 billion eurobond in the second half of the 2025–26 fiscal year (July 1–June 30), Finance Minister Ahmed Kouchouk announced on Tuesday during a seminar on capital market development.
“We are seeing growing demand for five-year bonds in international debt markets,” Kouchouk said, emphasizing the government’s strategy to diversify financing sources, cut borrowing costs, attract new investors, extend debt maturities, and better meet its funding needs.
The North African nation last issued eurobonds in January 2025, raising $2 billion in a two-tranche deal with five- and eight-year maturities carrying yields of 8.62% and 9.45%, respectively.
Egypt’s budget deficit financing is still dominated by short-term local currency debt with maturities of less than a year, as well as bilateral and multilateral loans. Under its current strategy, the government seeks to lengthen domestic debt maturities and reduce reliance on external borrowing from private creditors, capping eurobond issuance at $4 billion in 2026.
IMF Managing Director Kristalina Georgieva recently warned of rapidly rising global debt, noting that public debt is approaching 100% of global GDP and that higher debt-servicing costs are limiting investment in human capital.
The IMF Executive Board is expected to meet before the end of Q1 2026 to review Egypt’s $8 billion Extended Fund Facility (fifth and sixth reviews) and the first review of a $1.3 billion loan under the Resilience and Sustainability Facility.
In mid-January, the IMF raised Egypt’s 2026 growth forecast to 4.7% from 4.5%, citing a recovery in household consumption as inflation eases, along with continued improvements in business investment supported by looser monetary policy.
