Cairo - Mubasher: Egypt joined the J.P. Morgan Emerging Market Bond Index (EMBI) on Monday, 31 January, to become the second country in the Middle East and Africa to be listed in the index, the Minister of Finance, Mohamed Maait, announced.
With an estimated weight of 1.85%, Egypt is expected to enter the index with 14 bonds valued at $26 billion.
Maait said that the Ministry has sought to enable Egypt to rejoin the EMBI for three years after the country had been removed from the index in June 2011 for not meeting requirements.
The Minister added that the country has fulfilled the bank's requirements to rejoin the index, including extending the life of government debt, adjusting the yield curve, and promoting foreign investors' participation in government financial instruments.
