Investors In Egypt Having Currency Problems -MSCI

Investors are telling equity index compiler Morgan Stanley Capital International that they have problems with currency when repatriating money out of Egypt, an MSCI official said on Wednesday.

Earlier, at a periodic review of its indexes, MSCI said it might be forced to launch a public consultation with the investment community on Egypt’s potential exclusion from its MSCI Emerging Markets Index because of currency issues.

Remy Briand, managing director and global head of index research at MSCI, said in a conference call: “We have no proposal to change anything in the index but we have investors giving us feedback that they have problems with the currency while repatriating out of Egypt.”

He said: “We have highlighted that the situation in Egypt regarding the currency is being monitored very carefully.”