Macro Analysis /

Egypt: Foreign holdings of T-bills rise 2.8% m/m to USD 22.9bn as of end-June

    12 August 2021
    • Influx of portfolio investments since June 2020 has been instrumental in stabilizing FX reserves
    • Portfolio flows into T-bills have amounted to USD 15bn since June 2020
    • Strong portfolio inflows reflect Egypt's high real interest rates and sizeable FX reserves