Cairo – Mubasher: Egypt’s inclusion in the FTSE Russell’s new frontier emerging markets government bond index is a major step that will help reduce the cost of public debt as part of a package of measures taken by the government for economic reform, Minister of Finance Mohamed Maait said.

The inclusion will likely lead to pumping about $4 billion in additional foreign inflows into Egypt’s government debt instruments, including treasury bills and bonds, Maait added in a statement on Wednesday.

The newly-launched index includes 13 countries with a total market value of bonds amounting to $414.8 billion.