Egypt's borrowing costs set to drop: EFG-Hermes
- Egypt: Thursday, February 28 - 2013 at 04:13
Egypt-based investment bank, EFG-Hermes Holding has said the country's borrowing costs are set to fall as the slowest loan growth in three years amid escalating political turmoil prompts banks to park funds in government notes, Bloomberg has reported. "Banks have nowhere else to put their money," Khalil al-Bawab, director of fixed income at Cairo-based EFG-Hermes. "Although there's a lack of visibility on where the country is going, the market's risk appetite has been adjusted due to the persistence of instability in the last two years."
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