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Egypt attracts $3bn investments in month from int'l institutions

Egypt attracts $3bn investments in month from int'l institutions
These investments signal the return of foreign investors to the Egyptian market

Cairo – Mubasher: Several international institutions and funds have injected $3 billion worth of investments into the Egyptian market in a month, including about $1 billion in two days only, a banking source told the Middle East News Agency (MENA).

The Egyptian market attracted $592 million in investments on Thursday, 9 July, the largest daily level since the beginning of the coronavirus (COVID-19) crisis, and $367 million on Sunday, 12 July, the source added.

These investments signal the return of foreign investors to the Egyptian market amid the growing confidence in the most populous Arab nation.

In the last period, Egypt secured $10 billion from international institutions and investors such as the International Monetary Fund (IMF), including $4.8 billion from the IMF and about $5 billion from the international bond market.