Foreign investment in Egyptian securities rose to around $22.866 billion in June, from around $22.250 billion in May, the central bank data.
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Appetite for Egypt’s domestic debt has increased given the North African nation’s high real-interest rate, which ranked second among 50 major economies tracked by Bloomberg following Vietnam.
Another factor is that since the flotation of the Egyptian pound as part of an economic reform programme in November 2016, foreigners have injected billions of dollars into the country’s debt instruments.
