Egypt Approaches JPMorgan to Join EM Bond Index, Minister Says
- Nation aims to complete steps with Euroclear by June: Maait
- Finance Minister Mohamed Maait speaks in a phone interview
This article is for subscribers only.
Egypt approached JPMorgan Chase & Co.’s to be included inclusion in its emerging-market bond indexes and is making progress on a plan to make it easier for foreigners to invest in its local debt, Finance minister Mohamed Maait said.
“Our strategy aims to reduce our borrowing costs and make our debt more attractive,” Maait said in a telephone interview on Thursday. Joining the JPMorgan indexes would “have a positive impact as it will attract passive investors to the Egyptian debt instruments.”