FTSE Removes Egypt from Watch list, Maintains "Emerging Markets" Classification

Taarek Refaat

FTSE Russell announced that it has removed Egypt from its watch list, as part of its annual country classification review.

FTSE decided to keep Egypt in the “Secondary Emerging Markets” category instead of downgrading it to “Unclassified Markets” category.

Meantime, government bonds will be added to the FTSE World Government Bond Index (WGBI).

Egypt was added to the watch list for potential reclassification from secondary emerging market to unclassified market status due to reports from index users and market participants that since March 2023 onwards there have been significant and persistent delays in the ability of international institutional investors to repatriate capital from Egypt and to execute foreign exchange transactions.

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