Egypt Plans to Approach JPMorgan to Join EM Bond Index
- The government taking steps to ensure its debt is eligible
- Aims to attract foreign investment into domestic bonds
Photographer: Daniel Acker/Bloomberg
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Egypt is planning to approach JPMorgan Chase & Co. for inclusion in its emerging-market bond indexes to boost inflows from overseas institutional investors into its domestic debt market, three people familiar with the matter said.
While the government has yet to approach JPMorgan, it’s taking steps to ensure its debt is eligible for inclusion over the next year, said the people, who declined to be named as the information isn’t public. JPMorgan declined to comment. Finance ministry officials did not immediately respond to requests for comment.