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Coup authorities get loan of 3 billion Egyptian pounds

February 5, 2014 at 2:12 am

The Ministry of Finance in Egypt has been given loans totaling 3 billion Egyptian pounds (around £270m) from local banks through selling treasury bonds of three and seven years duration.

According to a spokesman for the ministry, the expected average yield on the 3 year bonds will be 12.5 per cent. On the 7 year bonds the average yield is anticipated at 13.31 per cent.