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Despite reaching all-time high, Egypt s external debt is within safe levels - Al-Monitor: The Pulse of the Middle East

Despite reaching all-time high, Egypt s external debt is within safe levels - Al-Monitor: The Pulse of the Middle East
al-monitor.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from al-monitor.com Daily Mail and Mail on Sunday newspapers.

South africaAl qahirahZeinab abdallaInternational debt statisticsJp morganCentral bankWorld bankFederal reserveWith egyptDebt statisticsMiddle eastNorth africaHanan ramsesCairo based el horreya brokerageFinancial institutionsEmerging markets index

Rate cuts result in interest margin compression for Egypt s banks: Fitch

Net interest margins of Egyptian banks are supported by high yielding government debt

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JP Morgan listing boosts Egypt s access to debt markets - Al Monitor: The Pulse of the Middle East

JP Morgan listing boosts Egypt’s access to debt markets JP Morgan placed Egypt on its Index Watch Positive on April 9, meaning the North African country should be relisted on JP Morgan’s Government Bond Index Emerging Markets within six months. City buildings are seen in front of the famous Giza Pyramids on Dec. 15, 2016, in Cairo, Egypt. - Chris McGrath/Getty Images April 24, 2021 The relisting of Egypt on JP Morgan s GBI-EM index is being hailed as a major step for the country’s capital markets. The country’s listing may invigorate its access to cheaper sovereign debt instruments as governments worldwide bank on international bond issuances. JP Morgan placed Egypt on its Index Watch Positive on April 9 in a step toward relisting the North African country on JP Morgan’s Government Bond Index Emerging Markets within six months.

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Egyptian banks face further pressure from COVID-19 fallout

Dubai: Egyptian banks face asset-quality deterioration and continued pressure on profitability through 2021 amid the economic fallout of the pandemic according to Fitch Ratings. The economic impact of the pandemic is weakening Egypt’s growth momentum. Fitch Ratings expects real GDP growth to slow to 3 per cent in the fiscal year to end-June 2021 from 5.6 per cent in 2019 given the negative impact on key sectors, including tourism, trade, transportation and the Suez Canal, which represent around 23 per cent of GDP. Rising loan impairments amid the difficult economic environment and low interest rates have resulted in declining profitability of banks. “We expect continued pressure on operating profitability due to lower interest rates and higher loan impairment charges as borrower support measures end. We do not expect this to lead to capital erosion, but capitalisation remains a credit weakness given banks’ high exposure to the sovereign and large individual obligors,” sai

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