The government’s eurobond roadshow planned for next week continues to drive the conversation this morning. A source told Al Mal the expectation is that Egypt would have to pay around 7%, “following the Fed’s move to raise rates.” This is higher than the 5.5-6% Deputy Finance Minister Ahmed Kouchouk had projected back in August. Al Mal’s source said a second issuance will likely be in 2H2017 with both tranches likely listed in England.

…Separately, the IMF agreement is going to the House: Finance Minister Amr El Garhy said the government has finished reviewing the terms of the USD 12 bn IMF agreement and, according to the cabinet, has approved it. The Council of Ministers will now add its economic projections to it and send the agreement to Ittihadiya and to the House of Representatives for approvals. El Garhy denied there is an agreement to keep the terms of the agreement secret, saying the delay in making them public them was due to the holiday period. He added that the agreement will be reviewed and revised quarterly. El Garhy also gave a snippet on the government’s fiscal performance saying the first six month of FY2016-17 saw the budget deficit fall to 5% of GDP, compared to 6.3% a year ago.

CBE Governor Tarek Amer is leading a delegation on a five-day visit to London to promote investment, Al Masry Al Youm reports.

The Health Ministry will announce the full list of meds set for a price increase today, Ahram Gate reported. Price increases to meds will only include around 3,000 types out of 12k on the market, Health Minister Ahmed Rady told Al Masry Al Youm. Chronic illness medication will make up less than 10% of meds that will see a price hike.

A delegation of Russian officials is in Egypt until 16 January to examine security at the Sharm El Sheikh and Hurghada airports ahead of the anticipated return of air travel between both countries, Al Borsa reported.