US$12.8 Bln Foreign Investments Flee Egypt In 2011, 2012: CBE

The Central Bank of Egypt (CBE) stated that foreign investors divested US$ 12.839 billion from the Egyptian market in 2011 and 2012, which has led to diminishing foreign cash reserves.

CBE’s report showed that US$ 10.327 billion worth of foreign investment exited the market in 2011 due to the turbulence that followed the revolution, while US$ 2.512 billion worth of foreign investments exited the market in 2012.

The values of foreign investments that Egypt lost in 2011 were US$ 5.278 billion in Q1, US$ 2.002 billion in Q2, US$ 1.287 billion in Q3 and US$ 1.758 billion in Q4.

The values of foreign investments that flee Egypt in 2012 were US$ 1.500 billion in Q1, US$ 476.7 million in Q2, US$ 183.7 million in Q3 and US$ 351.3 billion in Q4, the report added.