IMF Deal to Keep Party Going for World's Carry-Trade Darling
- Non-financial IMF package may sustain flows to Egypt, says EFG
- Arab nation has been the world’s best carry trade this year
Pedestrians pass among market stalls in Cairo.
Photographer: Sima Diab/BloombergThis article is for subscribers only.
Egypt is the world’s best carry trade. It may stay that way for a while longer if the government gets its wish and strikes another deal with the International Monetary Fund.
The Arab nation’s local-currency bonds have handed investors a 22% return this year, five times the emerging-market average. And the Egyptian pound’s 7.3% gain against the dollar is the most globally after Russia’s ruble.