The Egyptian government started negotiations with sovereign institutions in the UAE to sell them domestic bonds as it aims to finance its fiscal deficit, an official source told Al Masry Al Youm. The government is negotiating with the Abu Dhabi Investment Council and Abu Dhabi Investment Corporation amongst others, the source said, adding that Central Bank of Egypt Governor Tarek Amer and Minister of Investment Ashraf Salman have recently visited Abu Dhabi to present the offer. Negotiations come after those with Saudi Arabia led to limited direct cash support. The latter is needed for the government to shore up reserves ahead of a potential devaluation, in our view. (Al Masry Al Youm, Mohamed Abu Basha)