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Egypt: Foreign investment in treasuries set to reach $10 bln

Decision to float its pound currency in November has helped revive foreign inflows into the debt market

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Egyptian Finance Minister Amr El Garhy said on Sunday he expected foreign investment in Egyptian treasury instruments to reach about $10-$11 billion in one year.

Egypt used to attract significant inflows into government bonds and bills before the 2011 uprising drove off foreign investors. Egypt’s decision to float its pound currency in November has helped revive foreign inflows into the debt market.