Browsing: Egypt’s inflation rate

Egypt to privatise key state companies amid Rising Inflation

Investors brought in after the 2016 IMF-scrutinised reforms are becoming increasingly sceptical of the Egyptian government’s finances, which is causing the price of Egypt’s dollar-denominated Eurobond in 2032 to plummet approximately 75 cents on the dollar at present.

This indicates that Egypt will have to pay higher interest rates if it wants to issue more bonds, even though the country is attempting to spread its debt with green, sharia-compliant, and yen-denominated samurai bonds.

In recent years, there has been a “quite large” rise in Egypt’s debt that has been issued in foreign currency, according to James Swanston, an economist at Capital Economics who specialises in the Middle East and North Africa.