Foreign holdings in Egyptian treasuries climbed 21.6% to EGP 233.8 bn (c.USD 13.36 bn) in January, up from EGP 192.2 bn (c.USD 11 bn) in December, according to the CBE’s latest monthly statistical bulletin (pdf — pp. 66, table 38). The figure roughly coincides with the USD 13.1 bn previously disclosed by Finance Minister Mohamed Maait. Total holdings of treasuries, meanwhile, recorded EGP 1.37 tn, up from 5.4% m-o-m from EGP 1.30 tn. CBE Governor Tarek Amer had previously told Bloomberg that January was set to see the first positive net inflows since May 2018. The 2018 Emerging Markets Zombie Apocalypse saw the country lose some USD 10 bn in outflows.

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