Egypt will join the index with an estimated weight of 1.8% with 14 government bonds & a total value of $24 billion, according to JP Morgan. 90% of the investors surveyed supported the re-inclusion of Egypt in the index.
Who is affected🤷: We say re-inclusion because Egypt was removed from the index in 2011 after failing to meet the index’s requirements.
Why is this important🤔: The inclusion makes Egypt the second country in the Middle East and Africa to join the index, besides South Africa. The inclusion could pump about $4.4 billion in new investments into several of the government’s debt instruments, including treasury bills and bonds.
