Foreign investments in Egyptian government securities reach 103.6b EGP

CAIRO

Foreign investments in Egyptian government securities rose to 103.6 billion Egyptian pounds ($5.74 billion) as of May 9, the head of public debt at Egypt’s Finance Ministry, Sami Khallaf, said on Wednesday.

The figure rose from 91.8 billion pounds as of April 25.

Egypt used to attract higher inflows, around $11 billion, into government bonds and bills before the 2011 uprising drove off foreign investors.

The central bank’s decision to float its currency in November, which halved the pound’s value, has helped revive foreign inflows into Egyptian treasuries.

The central bank’s monetary policy committee is due to meet on May 21 to discuss interest rates.