Foreign investments in Egypt government securities at highest level since 2011

Foreign investment in Egypt’s domestic debt instruments has jumped to 92.624 billion Egyptian pounds ($5.12 billion) at the end of April, the highest since the 2011 January Uprising, the central bank said Wednesday.

Egypt attracted 73.635 billion pounds of foreign investment in treasury bills at the end of March 2017.

Investors have been pouring money into Egyptian debt and equities since authorities removed most currency restrictions and raised interest rates in November 2016 to end a dollar-shortage and secure a $12 billion International Monetary Fund loan. The central bank raised interest rates again in May– by 200 basis points — as it sought to curb an inflation rate above 30 percent.