The Finance Ministry will issue treasuries worth EGP 371 bn in 1Q2017-18, according to the Finance Ministry’s schedule for T-bill issuances for next quarter. This comes at a time of increased demand for Egypt’s bonds, as foreigners increased their holdings in Egyptian treasuries by 5.1% to EGP 164 bn (USD 9.3 bn) in just over a week yesterday, unnamed government officials tell Al Borsa. Foreign holdings in Egyptian debt have been on an uptrend since the EGP float, climbing to EGP 155.9 bn (USD 8.5 bn) as of 14 June.

Tags: