{"id":607254,"date":"2023-10-01T00:00:00","date_gmt":"2023-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/"},"modified":"2023-10-01T00:00:00","modified_gmt":"2023-10-01T00:00:00","slug":"egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/","title":{"rendered":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch"},"content":{"rendered":"

Global index <\/strong> provider FTSE <\/strong> Russell is adding Egypt to a watchlist for possible demotion <\/strong> in its suites of equity indexes amid reports of foreign investors having difficulties repatriating capital from the country, it said in a statement (pdf)<\/a> on Thursday. Egypt is at risk of being demoted from \u201csecondary emerging market\u201d to \u201cunclassified,\u201d a move which could see Egyptian equities deleted from the provider\u2019s indexes.<\/p>\n

We have a few months to turn things around: <\/strong>FTSE will share its update of Egypt\u2019s watchlist status in March 2024 as part of its Equity Country Classification Interim Review, it said in an announcement (pdf)<\/a>.<\/p>\n

The rationale: <\/strong>FTSE says \u201cmarket participants and index users have reported ongoing delays on their ability to repatriate capital from Egypt since March 2023,\u201d adding that it had conveyed these concerns to \u201cthe Egyptian authorities.\u201d The index provider will try to assess the length of the delays and the issues faced by international investors when trying to repatriate capital. You can find FTSE\u2019s full criteria here (pdf)<\/a>.<\/p>\n

It\u2019s all because of the FX crunch: <\/strong>The country remains in the grip of an ongoing hard currency shortage, triggered in part by major foreign portfolio outflows as global economic conditions tightened following the outbreak of the Russia-Ukraine war. A sharp shortage of FX is making it difficult for investors to repatriate capital when exiting a position here.<\/p>\n

FTS <\/strong> E isn\u2019t the only one: <\/strong>Global index provider MSCI in June said it could consider reclassifying its Egyptian indices from \u201cemerging\u201d to \u201cfrontier\u201d or \u201cstandalone\u201d<\/a> status, citing the FX liquidity crunch. Moody\u2019s in August extended its review<\/a> of a potential downgrade for our sovereign credit rating, while JPMorgan last week put Egypt on review for potential removal<\/a> from its widely-tracked suite of emerging-market sovereign bond indexes.<\/p>\n

And neither is Egypt: <\/strong>FTSE has also put Pakistan and Vietnam on the watchlist. Pakistan could drop to \u201cfrontier market\u201d from \u201csecondary emerging market\u201d while Vietnam will remain on the watchlist for a possible upgrade to secondary emerging from frontier.<\/p>\n

Bond investors are \u201cwary of committing capital\u201d here <\/strong>on concerns about debt service after two delays have seen us (so far) fail to unlock funding from our USD 3 bn program with the International Monetary Fund, Bloomberg<\/a> writes. This comes as we face what Goldman Sachs warns is a USD 11 bn funding gap in the next five years and a wall of interest and principal due over the coming decade. <\/p>\n

\u201cI don\u2019t think <\/strong> the risk of default is imminent, but <\/strong> the status quo is clearly unsustainable,\u201d <\/strong> emerging-markets money manager Carlos de Sousa told Bloomberg. London-based analyst Gordon Bowers notes that \u201cbarring another dramatic external shock,\u201d we\u2019re unlikely to default on our debt over the next year. The fund manager holds overweight positions in Egypt\u2019s debt in its \u201cunconstrained\u201d accounts.<\/p>\n

Pulse check on the debt market: <\/strong>Our USD debt has lost around 9.7% this year, making us the worst EM performer after Bolivia and Ecuador, according to Bloomberg. Meanwhile, many bonds have entered distressed territory, with yield spreads between Egyptian USD bonds and US treasuries climbing to 1,165 basis points. Bonds trading at more than 1,000 bps above treasuries are considered to be distressed.<\/p>\n

Could be looking up on the IMF front? <\/strong>The Madbouly government\u2019s recent efforts to sell down state assets has reportedly left the IMF feeling positive about our commitment to privatization, potentially easing the path towards a review of our USD 3 bn loan program, Bloomberg reported<\/a> last week. Hurdles remain, however, with the two sides yet to agree on a pathway to floating the currency or curb government spending on infrastructure projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Foreign investors are reportedly encountering problems repatriating FX from Egypt as the country endures its worst FX crisis in years<\/p>\n","protected":false},"author":1,"featured_media":607255,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,115,72,164,4052],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-emerging-markets","tag-enterpriseam","tag-equities","tag-ftse-russell","wpautop","entry"],"acf":{"mongo_id":"6bf0691d-2249-4056-b53b-6f4781620fe6","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1646.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch","related_issue":[607247],"teaser":"Foreign investors are reportedly encountering problems repatriating FX from Egypt as the country endures its worst FX crisis in years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.c5654643-ef76-40fb-b675-4126e84ee7ec.mp3"},"yoast_head":"\nEgypt faces possible demotion on FTSE stock indexes amid FX crunch - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt faces possible demotion on FTSE stock indexes amid FX crunch\" \/>\n<meta property=\"og:description\" content=\"Foreign investors are reportedly encountering problems repatriating FX from Egypt as the country endures its worst FX crisis in years\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt faces possible demotion on FTSE stock indexes amid FX crunch\",\"datePublished\":\"2023-10-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\"},\"wordCount\":612,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"emerging markets\",\"EnterpriseAM\",\"equities\",\"FTSE Russell\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\",\"name\":\"Egypt faces possible demotion on FTSE stock indexes amid FX crunch - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-10-01T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt faces possible demotion on FTSE stock indexes amid FX crunch\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/","og_locale":"en_US","og_type":"article","og_title":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch","og_description":"Foreign investors are reportedly encountering problems repatriating FX from Egypt as the country endures its worst FX crisis in years","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-10-01T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch","datePublished":"2023-10-01T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/"},"wordCount":612,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1","keywords":["capital markets","emerging markets","EnterpriseAM","equities","FTSE Russell"],"articleSection":["Capital markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/","name":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1","datePublished":"2023-10-01T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/egypt-faces-possible-demotion-on-ftse-stock-indexes-amid-fx-crunch\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Egypt faces possible demotion on FTSE stock indexes amid FX crunch"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1646.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":607305,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/01\/this-evening-edita-is-getting-usd-45-mn-from-the-ifc\/","url_meta":{"origin":607254,"position":0},"title":"THIS EVENING: Edita is getting USD 45 mn from the IFC","author":"enterpriseam admin","date":"1 October 2023","format":false,"excerpt":"Good afternoon, friends. Welcome to a new week, as well as a new month that may be bringing cooler weather, although the back-to-school traffic is also in full swing. THE BIG STORY TODAY IFC approves USD 45 mn loan to Edita: The International Finance Corporation (IFC) has signed off on\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/3466.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589293,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/25\/msci-could-review-our-emerging-market-status-amid-fx-crunch\/","url_meta":{"origin":607254,"position":1},"title":"MSCI could review our emerging-market status amid FX crunch","author":"enterpriseam admin","date":"25 June 2023","format":false,"excerpt":"MSCI says low FX liquidity is impacting the accessibility of the Egyptian market","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617815,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/draft-budget-for-the-next-fiscal-year-heads-to-the-house\/","url_meta":{"origin":607254,"position":2},"title":"Draft budget for the next fiscal year heads to the house","author":"enterpriseam admin","date":"28 March 2024","format":false,"excerpt":"Good morning, friends. An unusually busy week in local business and economy news for Ramadan is ending how it began, and we\u2019ve got a packed issue for you today to prove it. There\u2019s plenty for you to read through this morning, so let\u2019s jump right into it.So, when do we\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2550.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685450,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/23\/tmg-moves-up-to-ftse-russel-geis-mid-cap-segment\/","url_meta":{"origin":607254,"position":3},"title":"TMG moves up to FTSE Russel GEIS\u2019 mid-cap segment","author":"enterpriseam admin","date":"23 February 2026","format":false,"excerpt":"The upgrade comes after TMG\u2019s market capitalization surpassed the mid-cap minimum threshold of around USD 2.7 bn","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/8\/686.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606975,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/25\/our-sovereign-bonds-could-be-removed-from-jp-morgans-em-index\/","url_meta":{"origin":607254,"position":4},"title":"Our sovereign bonds could be removed from JP Morgan\u2019s EM index","author":"enterpriseam admin","date":"25 September 2023","format":false,"excerpt":"The investment bank has put Egyptian sovereign debt under review","rel":"","context":"In "Capital markets"","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1451.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622463,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/02\/fund-managers-have-turned-negative-on-egyptian-equities-amid-em-zombie-apocalypse\/","url_meta":{"origin":607254,"position":5},"title":"Fund managers \u201chave turned negative\u201d on Egyptian equities amid EM Zombie Apocalypse","author":"enterpriseam admin","date":"2 October 2018","format":false,"excerpt":"Fund managers \u201chave turned negative\u201d on Egyptian equities amid the Emerging Markets Zombie Apocalypse, a monthly poll of leading fund managers shows, according to Reuters. Of the 13 managers polled, 15% said they expect to curb their exposure to Mideast equities within the next three months, while around 8% said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=607254"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607254\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607255"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607254"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607254"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}