Thndr Claps » EGY Claps » Economy 🏙 » EGX rises following flotation and IMF loan ⬆️
The ClapWith the decision to float the EGP and the $9 billion aid package Egypt received, the EGX rose sharply.
WhatAccording to Bloomberg, the EGX30 increased significantly during this period, up more than 47% from its lowest level in July 2022.
The Bloomberg report added that Egyptian stocks are currently trading at lower valuations than they were during the past 10 years.
So WhatThe loan that Egypt secured from the IMF restored investors confidence to pump their money into the EGX.
Now WhatIt is expected that investments from the Gulf will stimulate the market, reflected in the establishment of a Saudi Sovereign Fund subsidiary that invests in the Egyptian economy.
© Thndr. All rights reserved
Disclaimer: Thndr does not provide investment advice, individual investors are responsible for their own decisions or can seek independent advice. The value of investments can go up and down. Thndr is a trading name of Thndr Securities Brokerage which is authorised and regulated by the Financial Regulatory Authority (FRA). Registered in Egypt (no. 804)..© Thndr. All rights reserved
Hello👋 We want you to be able to express your opinions on anything and everything finance and economics related to the Egyptian and US markets.
This is why we introduced Thndr Thinkers💭
Let’s go through some housekeeping notes before you jump into publishing your article to all Thndr Claps readers!
Type of Content📝 We want to see market-relevant content that shows good analysis, please! Base your articles on facts
Don’t be shy, explain🗣 Flex your knowledge to us, and we’ll share it with all the readers!
Be Original🙏 Please don’t copy. No one likes a copycat. All submissions are welcome as long as they’re yours
Make your title attractive🤩 A title is like the cover of your book. Attractive enough to make you look at the book but also clear enough to tell you what the book is about.
Clean🧹 We’re all humans and we all make mistakes. But please try and clean up the article so it’s clear for all the readers
No promotional content🚫 We don’t publish promotional content.
Any questions about becoming a Thndr Thinker? Email firstname.lastname@example.org and we’d be happy to help!
Normally, your article will be published within 24 hours of submission (if you followed the guidelines)