Foreign investments in Egypt debt jump to 285 bln pounds at August-end

Foreign investments in Egypt’s domestic debt instruments jumped to 285.02 billion Egyptian pounds ($16.15 billion) at the end of August, the central bank said on Wednesday.

Appetite for Egypt’s domestic debt and equities has increased since authorities removed most currency restrictions and raised interest rates in November to end a dollar-shortage and secure a $12 billion International Monetary Fund loan.

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.