The Clap
The EGP’s devaluation & high-yielding treasury bills have managed to grab the attention of emerging markets investors.
Claps class
Treasury bills are government-issued investment instruments, whereby the government borrows money while promising a certain return on investment.
What
Returns on Egypt’s t-bills are the highest among emerging markets, which is why analysts believe that now’s a suitable time to get back into Egypt’s debt market once again.
So what
The EGP’s devaluation already brought in significant foreign inflows, but some investors prefer to wait until the exchange rate stabilizes a little more.
Now what
Deutsche Bank expects the EGP to decline a further 10%, to reach 33 pounds against the dollar.
