Cairo – Mubasher: Egypt is observing the global bond market in order to determine the right time for an international bond issue, which was scheduled for issuance in this week, the Minister of Finance Amr El-Garhy on Saturday stated.

The global markets saw a lot of ebbs and flows following the release of the US’ job monthly report, El-Garhy added, according to Youm7.

The finance ministry is coordinating with investment banks, which lead the issue, to set the right time for the issuance, the top official commented.

Foreigner’s holdings of Egypt’s treasuries increased to a range between $20.2 billion and $20.3 billion since the devaluation of the EGP’s exchange rate, El-Garhy concluded.