"The rise of Egypt's international bonds following the commitment of the US Treasury Secretary to support the economy and reforms"
*Data from Tradeweb showed that Egyptian sovereign bonds in dollars rose by more than 1.3 cents on Wednesday after US Treasury Secretary Janet Yellen pledged to provide support to Egypt's economy and reforms.
*All of Egypt's dollar-denominated bonds increased, with the price of the March 2024 maturity rising to 98 cents on the dollar. Longer-dated maturities in 2050 and 2059 achieved the largest gains, rising by up to 1.4 cents, with the former approaching 62 cents against the dollar.
*The US Treasury Department said in a statement yesterday that Secretary Janet Yellen expressed the United States' support for efforts to enhance Egypt's economy and its reforms during a meeting with senior Egyptian financial officials in Washington on Tuesday.
*Following the meeting, Yellen said in a post on her Ex account: "We discussed the situation in the Middle East and the global economy. During our meeting, I emphasized our strong support for Egypt's reform program to enhance its economy and support inclusive and sustainable growth."
*Yellen's meeting with Finance Minister Mohamed Maait, Central Bank Governor Hassan Abdullah, and Minister of International Cooperation Rania Al-Mashat comes as Egypt holds discussions with the International Monetary Fund (IMF) regarding an increase in its $3 billion loan.
ارتفاع سندات مصر الدولية بعد تعهد وزيرة الخزانة الأمريكية بدعم الاقتصاد والإصلاحات
تفاصيل: https://lnkd.in/dEf5RPrU
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