Foreign investments in gov’t T-Bills record $18B in October: CBE

CAIRO – 18 December 2017: Foreigners’ investments in government treasury bills registered a new record high of about $18.849 billion at the end of October against $17.467 billion at the end of September, an increase of $1.382 billion, according to the Central bank of Egypt (CBE) said on Monday.

Finance Minister Amr Al-Garhy said earlier in November that total foreign investments in treasury bills is expected to reach about $20 billion by the end of 2017.

Foreigners have been heavily invested in government debt instruments since the local currency was floated on November 2016.

The same report added that total lending in Egyptian banks rose by LE13 billion at the end of September reaching LE 1.414 trillion against LE 1.401 trillion at the end of August.

Deposits rose to LE3.176 trillion at the end of September against LE 3.124 trillion at the end of August, an increase of LE 52 billion.

It also noted that total investments of Egyptian banks in government treasury bills rose to LE 564.349 billion by the end of October comparing to LE549.96 billion at the end of September, an increase of LE 14.4 billion.