Egypt

OUTLINE: In 2015 and 2016 the government was adamant about supporting the value of the Egyptian pound in the face of ongoing currency depreciation pressure, through its successive increases of the Treasury rate. As of October 2016 Treasury bond offerings show the five-year bonds standing at 13.4%...

OUTLINE: The Egyptian Exchange (EGX) is one of the oldest stock markets in the Middle East, dating back to 1883. The exchange covers the main market, an overthe-counter market and the Nilex, which is a relatively new market designated for small and medium-sized enterprises. As of December 2015 there...

The oil price decline that began in the second half of 2014 has dampened enthusiasm for initial public offerings (IPOs) across the MENA region. The mechanics of this trend are straightforward: oil sales account for the bulk of government revenues in the majority of the region’s hydrocarbon-rich economies, and, as allocation of these revenues...

The year 2016 was a difficult one for exchanges across the MENA region, thanks in large part to stubbornly low oil prices and political unrest. Egypt’s main index reflected the regional malaise for the first half of 2016, with a currency crisis and seemingly intractable fiscal deficit doing little to boost investor confidence. By the second...