Egypt’s Long Tenor Dollar Bonds Jump
Egypt’s long tenor dollar bonds have risen 5-6% in the last couple of days. While there has been no specific news attributable to this move, Bloomberg notes that the Egyptian government has supported a more flexible currency to underpin its economy. The nation is in...
Egypt CDS Spreads Jump as Economic Health Worries Linger
Credit risk across Egypt’s bonds have risen significantly in recent times with some analysts hinting at increasing default probabilities over time. Bloomberg cites JPMorgan data which showed that the yield premium that investors demanded to buy Egyptian bonds...
Egypt’s Central Bank Governor Resigns Ahead of Rate Setting Meeting
Tarek Amer, Egypt’s Central Bank governor caused a stir by shockingly resigning just a day ahead of an interest rate meeting. The African sovereign has been facing a widening current account deficit, dwindling forex reserves and significant selling pressure on the...
