Beltone Financial: Egypt sees $4-5 billion inflows into bond market in H2
Egypt is expecting a range of $4 billion to $5 billion of inflows into the bond market in the second half of the year, chief economist at Beltone Financial told Bloomberg on Monday.
Speaking with Yousef Gamal El-Din and Manus Cranny on “Bloomberg Daybreak: Middle East”, Alia Mamdouh said Beltone Financial is expecting Egypt to join once again the JP Morgan’s emerging-market government bonds index within the current quarter.
Beltone also expects the implementation of Egypt’s agreement with Euroclear, Europe’s biggest settlement house for securities, by the end of the current year, Mamdouh added.
Commenting on Moody’s recent updated rating for Egypt, Mamdouh said: “The rating affirmation and the stable outlook in particular is very positive for the fixed income market in general and particularly the bond market,”