Egyptian stocks and bonds rallied after the government said it’s negotiating with the International Monetary Fund for a loan to help revive its battered economy.

The EGX 30 Index advanced 4.7 percent to 7,894.03 at 11:08 a.m. in Cairo, the biggest gain among more than 90 gauges tracked by Bloomberg globally. 

Commercial International Bank Egypt was the largest contributor to the jump, climbing 6.8 percent, the most on a closing basis since March. The nation’s dollar debt due 2025 rose, Bloomberg reported on Wednesday.