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Thursday, 27 October 2022

Egypt in the News: Our FX bonds are on the up + the FT has a love letter for Egyptian tourism

FROM THE DEPT. OF GOOD NEWS: Egypt’s USD-denominated bonds have gained 5% this week, giving them a spot among the top three emerging market performers, Bloomberg reports. Investors are starting to dip their toes back into the country’s debt market amid anticipation that an agreement with the IMF for a new bailout package is nearing.

The Financial Times has a love letter to Egypt’s tourism industry. Headlined “Eternal Egypt — a journey out of time,” it says that the nation’s “ancient wonders still hold us spellbound, but its pulsing, intense present is just as intoxicating.” We’re also getting some tourism ink from Lonely Planet.

Also making headlines:

  • Domty boss Mohamed El Damaty tells Zawya that 2023 planning is a challenge amid economic turmoil.
  • MIT Technology Review and Germany’s DW both have stories on human rights.

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