CAIRO May 31 Foreign investment in Egyptian
government securities rose 13 percent in the past week to hit
136 billion Egyptian pounds ($7.53 billion), the head of public
debt at Egypt’s Finance Ministry, Sami Khallaf, said on
It was at 120 billion pounds a week earlier.
Egypt used to attract higher inflows into government bonds
and bills before the 2011 uprising drove off foreign investors.
The central bank ditched its foreign exchange peg of 8.8
pounds per dollar in early November, and to help stabilise the
newly floated currency it raised interest rates by 300 basis
The central bank raised its key interest rates once again by
200 basis points on May 21 in an attempt to curb soaring
inflation of over 30 percent.
Central Bank Governor Tarek Amer has said nearly $1 billion
in new foreign investment entered the country following the last
($1 = 18.0500 Egyptian pounds)
(Reporting by Eric Knecht; Writing by Amina Ismail Editing by