Foreign holdings in Egypt treasuries rise to USD 16.6 bn in May

Foreign holdings in Egyptian treasuries stood at USD 16.6 bn at the end of May, up from USD 16 bn at the end of April, according to the CBE’s monthly bulletin (pdf). CBE board member Fakhry El Fekky had told us in June that the figure had risen above USD 17 bn. Egypt has seen foreign appetite for its securities recover since the beginning of this year after a rough 2018. CBE data (pdf) shows that foreign holdings dropped by almost half to USD 11.5 bn in December, down from USD 21.2 bn in January.