Egypt to delay second international bond issuance: minister

Pulse Staff 11:09 - 19 October 2015

Egypt's Finance Minister Hany Kadry Dimian talks to the media during the Euromoney Conference in Cairo, Egypt September 7, 2015. REUTERS/Mohamed Abd El Ghany

The Chinese financial market that had a negative effect on liquidity in the global markets in general.

Egypt will delay its second international bond issuance, which was initially planned for November, the finance minister said on the sidelines of a conference on Monday.

"After we announced our intention there was some turbulence following turbulence in the Chinese financial market that had a negative effect on liquidity in the global markets in general, especially on investors who intended to invest in growing markets," Finance Minister Hany Kadry Dimian said.

"So we found that it is for the best to delay our issuance."