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Sunday, 19 July 2020

Egypt in the News on 19 July 2020

The Grand Ethiopian Renaissance Dam continues to occupy the attention of the international press this morning. We have the latest in this morning’s Speed Round, above. (Bloomberg | New York Times | BBC | CBS)

Bloomberg took note of the amended Central Depository Act as a step towards opening up Egypt’s local debt instruments to foreign investors, saying the changes “could unlock more demand [for Egyptian] bonds,” which carry the fourth-highest return rate among 25 emerging markets. Advisor to the Finance Minister Nevine Mansour also told the business information service that the amendments mark significant progress towards Egypt’s goal of making its debt “Euroclearable” — allowing local debt issuance to be cleared with Belgium-based clearinghouse Euroclear.

Beblawi granted immunity from torture lawsuit: The US State Department has granted ex-PM Hazem El Beblawi immunity from a lawsuit filed by US citizen Mohamed Soltan for alleged torture and abuse, according to court filings released on Friday, the Washington Post reports.

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