The Clap
Credit Suisse stated in its report that valuations of Egyptian companies on the EGX are among the lowest in emerging markets, but currency fluctuations make them less attractive.
The Deets
Credit Suisse said that the fear of a fluctuating exchange rate is the reason the EGP’s value will decline in the future. However, the EGP will gradually reach a fair price.
Foreign investors are waiting for the results of the Egyptian government’s meetings with the IMF, and the amount of support that the country will receive.
The report expects the IMF to provide $3-$5 billion in aid to Egypt.
Why this Matters
Dr. Mostafa Madbouly, Prime Minister of Egypt, said that Egypt is in the final stages of negotiations with the IMF.
Credit Suisse’s vision for the EGX 👁
