Foreign investors pull $1.13 billion from Egyptian T-bills in three sessions
Foreign and Arab investors sold $1.13 billion in Egyptian Treasury securities over three sessions. Net outflows reached $376.4 million on October 22.
Foreign and Arab investors sold approximately $1.13 billion in Egyptian Treasury securities across three trading sessions, according to Egyptian Exchange data reported by the Middle East Observer.
The net selling included about $376.4 million in outflows on October 22 alone. The report highlighted the movement as a significant capital outflow signal and a key risk for the economy over the medium term.
Meanwhile, Egypt's ongoing program with the International Monetary Fund and foreign exchange stability serve as the primary anchors for sovereign credit, according to the report. Inflation in the country also remains elevated.
What do these terms mean?
Treasury securities: Short or long-term debt instruments issued by a government to borrow money from investors in exchange for interest payments.
Capital outflow: The movement of money and investment assets out of a country by foreign or domestic investors.
Sovereign credit: An assessment of a national government's ability to borrow money and honor its financial debts.
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