VOL. XLIV

No 35

27-August-2001

EGYPT

Egyptian Market IncreasinglyIlliquid As MSCI Completes Quarterly Review

Egypts stock market, which hasfallen around 20% since the end of last year, continues to suffer at the handsof weak macro-conditions and an economy-wide level of uncertainty in light ofthe recent devaluation of the pound, despite having gained a place in theMorgan Stanley Capital International Index (MSCI) next to emerging marketheavyweights. The EFG Hermes Index hit an historic low on 5...