ICEC

Foreign investments in Egypt’s T-bill sale rise to 176.6 bln pounds in June

Foreign investments in Egypt’s domestic debt instruments climbed to 176.600 billion Egyptian pounds ($9.9 billion) at the end of June 2016 from 136.157 billion pounds in May.

Appetite for Egypt’s domestic debt has increased since the central bank floated the pound currency in November as part of an International Monetary Fund loan agreement aimed at reviving the economy.

Foreign investments, especially hot money invested in treasury bills, fled from Egypt when the revolution began. These investments continued shrinking gradually until they faded away completely a year after the uprising.

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