Egypt Attracts $3.1 Billion Foreign Investment Since Currency Flotation

Egypt attracted $3.1 billion of foreign investment in domestic debt instruments since the flotation of the pound in November up until mid-March, Deputy Finance Minister Ahmed Kojak told Reuters on Sunday.

Kojak said the funds were invested in treasury bills and bonds.

The Central Bank said earlier this month that foreign investment in treasury bills rose to a net purchase of $686.7 million in the first half of the 2016/17 financial year, compared to net sales of $38.3 million a year ago.

Egypt’s fiscal year begins on July 1. Read the full story here.