Pre-Trading Thoughts

Bloomberg reported that GCC countries await stability in Egypt's FX rate and an in-depth economic reform program before the injection of billions worth of investments into Egypt. Prime Minister is heading to Qatar today in a bid to push forward talks for fresh Qatari investment. Egypt is set to take its inaugural panda bond issuance to the market in early FY23/24, noting that early plans put the issuance at USD500 million in CNY-denominated bonds. The government spent EGP66 billion on fuel su...