By: Islam Fadl
Cairo – Mubasher: Total foreign holdings of Egypt’s treasury bills (T-bills) went up 4.08% month-on-month in May, data released by the Central Bank of Egypt (CBE) showed.
Foreign investments in Egyptian T-bills amounted to EGP 276.46 billion in the fifth month of 2019, compared to EGP 265.62 billion a month earlier.
The outstanding balances of T-bills rose to EGP 1.39 trillion at the end of May from EGP 1.36 trillion at the end of April.
Foreign holdings of Egyptian debt instruments stood at $5 billion from January to the end of May, board member of the CBE Fakhry El Fekki previously told Mubasher.
At the end of May, total foreign holdings of Egypt's debt instruments exceeded $17 billion, the top official revealed.
El Fekki expected foreign holdings of T-bills and T-bonds to rise in value to $20 billion by November.
Translated by: Zeinab Adel