Egypt needs to be connected to international markets: Euroclear

CAIRO – 10 September 2019: "Egypt needs to be connected to international markets," Director- Head of Global Capital Markets at EuroclearSudipChatterjee said in a panel at Euromoney conference Monday.

Answering a question about the effect of trade wars and global slow down on Egypt's growth, Chatterjee said that the state needs to work with the capital markets and make the domestic market ready and more friendly to international investors.

“Egypt has issues in bringing hard currency. We reach out to the foreign market to make them invest in Egypt. An action that would strengthen the Egyptian pound,” she stated.

Chatterjee added that Egypt has strong investment foundation. “One thing is a $100 billion market which is there. We work in the framework of the Egyptian capital market.”

Egypt can follow some other markets in increasing FDI, like Malaysia and Indonesia, according to Chatterjee.

Speakers at the panel besides Chatterjee were Senior Economist at World Bank Hoda Youssef, Managing Director and Head of Emerging Markets Economics at Citi Bank David Lupin, and Senior Investment Manager at Allianz TarekShahin.