Foreigners bought USD 1 bn worth of Egyptian debt since mid-March

Foreign holdings of Egyptian debt has grown by more than USD 1 bn since mid-March, Ahmed Feteha writes for Bloomberg. He says this is “a sign that investor confidence isn’t waning five months after authorities floated the pound and secured an IMF loan.” Foreign holdings of Egyptian government securities reached EGP 79 bn as of 4 April Samy Khallaf, head of public debt at the finance ministry, told Bloomberg.