Jaber walked to Europonds holders … Is it achieved?

A few days ago, Minister of Finance Yassin Jaber revealed that the government is preparing in the coming stage for negotiations with the holders of Europonds with the aim of reschedule public debt, in the context of the measures taken by the ministry to enter into a program with the International Monetary Fund, where the restructuring of public debt is a basic issue that has been overlooked since the Hassan Diab government announced the failure to pay the sovereign debts of the state.

Sabine Owais wrote in “Al -Nahar” that the Europonds file has been proposed since then, as the non -attached backwardness in negotiations with creditors led to the collapse of the bond price to lose more than 90 percent of its value, despite the successive ministers of money since the failure of the commitment to reach a consent and fair solution regarding the restructuring of the debt, without a similar commitment leading to the release of the aforementioned path.

However, the government of President Naguib Mikati was issued based on a book by former Minister Youssef Al -Khalil, a decree that extended the time to the passage of time, so that bond holders do not resort to taking any legal measures due to the delegation of the deadline, so that the organizational and consensual restructuring of these bonds, because the extension of the deadlines give way to the restructuring of the Europond portfolio in a regular way.

The decree was approved by the Council of Ministers in a session held on January 7, unanimously, and requires suspending the state’s right to make the time of the time of the deadliest that applies to the demands of the bonds of the Europond bonds issued by it, in accordance with the New York State Law or any other time This is a modification of the terms of the editions of the Europonds.

It is not clear what the government will be the steps of public debt, and whether the negotiation can go in the direction of an option that was previously put forward, which is the re -purchase of bonds from the state through intermediate international investment banks, which could contribute to extinguishing part of the debt due to the low price of the bond, despite its rise to between 17.50 and 18 cents in the wake of the positive atmosphere accompanying the election of a new president and the formation of a government, compared to a price that does not exceed 7 Cent.

As it reserved the date of launching the negotiations, he revealed that the priority is now to address the issue of young depositors.

He pointed out that the decisions to suspend legal statute of limitations until the end of the year 2028 that the Ministry of Finance worked out in order to restore the country to a stable economic and financial path.