Egypt is preparing to join the JP Morgan’s government bond index for emerging markets by the end of January next year.
Egypt would have an estimated weight of 1.8 percent in the index, JP Morgan said, and some 14 Egyptian pound government bonds with a value of $26 billion are eligible.
The bonds have an average yield of 14.9 percent and a duration of 2.9 years.
Local currency bond markets would benefit up to $2.2 billion if Egyptian bonds would join the index, JP Morgan analysts earlier said.
Egypt aims to make its domestic debt “Euroclearable” in a few months, but not before November’s earlier target, Finance Minister Mohamed Maait said last month.