Foreign holdings of Egyptian debt rise on Turkey’s crisis

The Turkish crisis has positively impacted foreign investment in Egypt’s debt instruments, sending it up again last week.

The turbulence in Turkey and the surrounding markets has given foreign investors the chance to experience the Egyptian market, finance minister Mohamed Maait told Enterprise.

Return on investment in Egypt is attractive for any investors even after Argentinian bond yields rose significantly, the minister indicated.

Governor of the Central Bank of Egypt (CBE) Tarek Amer previously said that total foreign holdings of Egypt’s debt instruments amounted to $38 billion since the libralisation of the exchange rate.