JPMorgan Adds African Nations to Frontier-Markets Bond Index

Senegal's financial woes have led to its inclusion in JPMorgan Chase & Co.'s new frontier-markets bond index, which will feature African sovereigns making up nearly 45% of the Government Bond Index, Emerging Markets Edge. The continent's largest contributors by weight are Egypt and Morocco.

JPMorgan has introduced this new index, which includes other issuers from Africa such as Nigeria, Kenya, Uganda, and Ivory Coast. Senegal recently received a $2.2 billion bailout from the International Monetary Fund to rework its debts.