MSCI could downgrade Egypt to Frontier or Standalone Markets status

It added that the country’s foreign exchange shortage would affect the foreign investor’s ability to repatriate funds from Egypt on time

Staff Writer, Arab Finance

June 26, 2023

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The global market index provider MSCI Inc. announced that it might launch a consultation to reclassify Egypt from Emerging Market to Frontier or Standalone Markets status, according to MSCI’s 2023 Annual Market Classification Review results.

The index provider said that this would happen “in the event of further deterioration of market accessibility in Egypt.”

It added that the country’s foreign exchange shortage would affect the foreign investor’s ability to repatriate funds from Egypt on time.

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