Cairo – Mubasher: Egypt has signed a terms & conditions agreement with Euroclear Bank to peg Egyptian debt instruments to the bank’s local currency.

Under the agreement, the Belgium-based bank will promote Egyptian debt instruments to a larger segment of foreign investors, especially central banks, which conduct huge investments, including investments in long-term government bills.

The Egyptian government is keen on staying on the path of economic reform to achieve financial goals including the reduction of debt-to-GDP ratio as per the strategy set in 2017, Egypt’s finance minister Mohamed Maait said.