Pre-Trading Thoughts

Egypt’s external debt jumped 17% y/y in 3Q FY2021-2022 to USD157.8 billion. Long-term debt accounted for around 83% of the total figure. Jordan will impose pre-clearance fees for Egyptian imports and mandate the use of letters of credit (L/Cs) for financing trade with Egyptian companies. The Financial Regulatory Authority is studying obligating companies listed on the stock exchange to increase the percentage of free float. COMI 2Q22 net profit post minority recorded a robust EGP3,511 b...