Investor Darling Egypt Eyes Lower Debt Yields in Test for Market
- Government is targeting yields at 15.5%, versus 18% this year
- Egypt’s Finance Ministry laid out goals for 2019-2020 budget
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Egypt is targeting lower yields on domestic debt in the new fiscal year, confident that its securities will remain coveted among investors.
The goal of 15.5 percent, laid out in the 2019-2020 budget that begins on July 1, compares with a yield target of 18 percent on Treasury bills and bonds in the current fiscal year that ends in June. Much of the foreign capital that entered Egypt over the past couple of years came in the form of purchases of local debt, with investors drawn by the stable currency and yields that at one point exceeded 20 percent.