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Egypt officially joins JP Morgan Index

Minister of Finance, Dr. Mohamed Maait, announced that Egypt has officially joined once again the JP Morgan bond index for emerging markets, as of today, Monday, January 31st.

It becomes one of only two countries in the Middle East and Africa to join this index.

It’s expected that Egypt will enter the index with an estimated weight of 1.85 percent with 14 government bonds worth a total value of about $26 billion.

That will enable the major investment funds and more foreign investors to invest in Egyptian debt instruments in the local currency.