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Egypt to allow brokers to buy bonds
- Egypt: Thursday, October 01 - 2009 at 11:36
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Egypt's Finance Ministry has announced its approval for brokerage firms to directly buy government bonds, in a bid to develop a secondary bond market for corporate and state debt, Reuters has reported. A secondary market would help in pricing debt and make bonds more attractive to buyers, thus making it easier for companies to raise funds. The creation of a bigger market should also help push down the cost of borrowing for both the government and corporations.
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StaffThursday, October 01 - 2009 at 11:36 UAE local time (GMT+4)
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