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Egypt is clawing itself back in favor with international investors after being shunned for more than six years, but it's having to pay returns only eclipsed by Argentina.Avoided by investors because of its overvalued currency and a distressed economy scrapping by on handouts from oil-rich Gulf neighbors, Egypt has quickly rebuilt a case for itself with the pound's 50 percent devaluation, a 5 percentage-point increase in interest rates and an International Monetary Fund-backed plan to revive the economy.The average yield on one-year Treasury bills was 21 percent at the latest sale compared with less than 12 percent before the central bank started raising interest rates at the end of 2015 . The central bank's monetary policy committee meets Thursday, with seven of eight economists in a Bloomberg survey expecting it to hold the key rate at 16.75 percent.
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