Pound devaluation, IMF deal send Egypt’s stock market soaring
PRO: Egypt's stock market has started 2023 as one of the world’s best-performing exchanges. Here's what it will take to maintain that momentum.
To:
Al-Monitor Pro Members
From:
Marc Español
Freelance journalist covering Egypt and Sudan
Date:
Jan. 30, 2023
Bottom Line:
The Egyptian Exchange (EGX) has started 2023 as one of the world’s best-performing stock markets in local currency terms following a strong but volatile 2022. To expand further, it needs the country’s economy to start stabilizing and the government’s privatization program, which envisages the IPO of some SOEs, to get underway.