Pre-Trading Thoughts

Net International Reserves registered at USD35.495 billion end of May, down from USD 37.123 billion in April, due to external debt repayments of USD2 billion. Madbouly asked the Finance Ministry to prepare a timeline for stake sales in state-owned firms, and the Planning Ministry to produce a list of assets from which the government will fully exit, or offer stakes. The government will likely look to line up strategic investors in private sales rather than turning to public offerings on the b...