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Sunday, 3 February 2019

Egypt seeks inclusion in JPMorgan EM bond indexes

Egypt wants to be included in JPMorgan’s emerging-market bond indexes as part of a strategy to cut borrowing costs and boost inflows in the debt market, Finance Minister Mohamed Maait told Bloomberg on Thursday. The business information service also says the government is looking to finalize by June an agreement with Euroclear that would “make it easier for foreigners, who currently have to go through a local bank, to invest in EGP-denominated debt.” (Plenty of background here, for those so inclined.) Egypt now offers the second-highest in emerging markets, behind only Argentina.

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