Pre-Trading Thoughts

IMF is currently in the technical discussions phase with the Egyptian authorities in terms of the anticipated loan program. IMF’s Director of the Middle East and Central Asia Department said that the level of Egypt’s external debt is not alarmingly high, noting that the main bulk of the public debt is in the local currency, but work should be done to reduce its rates gradually. Cabinet approved the executive regulations for the Sovereign Sukuk Law, as Egypt is preparing to issue the first sov...