Egypt attracts $3.1bn foreign investment in domestic debt: deputy finance minister

Egypt attracted $3.1 billion of foreign investment in domestic debt instruments since the flotation of the pound in November up until mid-March, Deputy Finance Minister Ahmed Kojak told Reuters on Sunday.

Kojak said the funds were invested in treasury bills and bonds.

The Central Bank said earlier this month that foreign investment in treasury bills rose to a net purchase of $686.7 million in the first half of the financial year 2016/2017 compared with net sales of $38.3 million a year ago.

Egypt’s financial year begins on July 1.

Source: Reuters