Egypt's 2020 dollar bonds had their best week ever, signalling a chance for the country to sell foreign-currency debt to cut record borrowing costs.
The yield on the 5.75 per cent securities slid 0.9 of a percentage point last week to 6.85 per cent. The rate rose one basis point at 11.40am in Cairo yesterday. It has dropped 193 basis points since reaching an all-time high on January 11 as Egypt's new parliament convened and talks resumed with the International Monetary Fund amid peaceful rallies to mark the one-year anniversary of the uprising that forced out the president.
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