Latest news with #publicDebt
Arab News
2 days ago
- Business
- Arab News
Egypt allocates Red Sea land for issuing bonds and lowering debt
CAIRO: Egypt has allocated a 174 square km plot on the Red Sea coast to the finance ministry for use in Islamic bond issuances and in efforts to lower the country's public debt, the official gazette said on Tuesday. The gazette did not elaborate on how the land would be used, but Egypt, which has been mired in a slow-burning economic crisis, signed a $35 billion deal with the UAE early last year to develop a 170-square-km tract along the Mediterranean coast. Since then, Egypt has been seeking similar large-scale investments as it tries to overcome the economic crisis. It has been in talks with Saudi Arabia, Qatar, and Kuwait in a bid to attract major investments, according to investment bankers and news reports. In tandem, Egypt also plans to issue $2 billion in sukuks, or Islamic bonds, in 2025, Finance Minister Ahmed Kouchouk told Reuters in April.
Zawya
2 days ago
- Business
- Zawya
Egypt allocates Red Sea land for issuing bonds and lowering debt
CAIRO - Egypt has allocated a 174 square km (67 square mile) plot on the Red Sea coast to the finance ministry for use in Islamic bond issuances and in efforts to lower the country's public debt, the official gazette said on Tuesday. The gazette did not elaborate on how the land would be used, but Egypt, which has been mired in a slow-burning economic crisis, signed a $35 billion deal with the United Arab Emirates early last year to develop a 170-square-km tract along the Mediterranean coast. Since then, Egypt has been seeking similar large-scale investments as it tries to overcome the economic crisis. It has been in talks with Saudi Arabia, Qatar, and Kuwait in a bid to attract major investments, according to investment bankers and news reports. In tandem, Egypt also plans to issue $2 billion in sukuks, or Islamic bonds, in 2025, Finance Minister Ahmed Kouchouk told Reuters in April. (Reporting by Mohamed Ezz, Nafisa Eltahir, and Patrick Werr; Editing by Kevin Liffey and Emelia Sithole-Matarise)
Times
19-05-2025
- Business
- Times
Japan reveals the sun is setting on old world debt economics
What is the most important price in the world economy right now? The price of gold, of oil, of rice, of the US dollar? Each can make a righteous claim to that venerable title. But arguably the one that matters most right now is the price of Japanese debt. That price, for IOUs issued in the world's third largest economy, has huge implications well beyond its shores. For decades low interest rates in Japan, subdued inflation and huge volumes of public debt — now approaching $9 trillion — meant Japan was a siphon of capital for other nations. Japan's ability to do this alongside running up huge debt levels — worth more than 2.5 times the size of its own economy — without collapsing the
