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Egypt’s Dollar Bonds Rally on Strategic Partnership with France
April 8, 2025
Egypt signed a strategic partnership agreement with France, covering health, transport, and energy, aiming to bolster Egypt’s stability amid regional volatility. French President Emmanuel Macron emphasized Egypt’s strategic importance to France, highlighting support for Egypt’s economic challenges, including high inflation and foreign currency shortages. Macron reaffirmed France’s backing for Egypt’s discussions with the IMF and the European Commission, following the IMF’s recent approval of a $1.2bn disbursement to Egypt. Additionally, France’s overseas aid development agency announced €260mn ($284.5mn) in loans and grants for Egypt.
Egypt’s dollar bonds rallied by as much as 3.5 points across the curve – its 5.875% 2031s at 76.4, yielding 11.5%.
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