Overseas holdings of T-bills triple since January, reach EGP 60.8 bn

Foreign investors’ holdings of Egyptian treasury bills by foreign investors have almost tripled since January, Bloomberg’s Ahmed Feteha reports. Overseas holdings of T-bills amounted to EGP 60.8 bn (USD 3.3 bn) as of March 14, the Finance Ministry’s head of public debt Samy Khallaf said in an interview. The number was EGP 22 bn at the end of January. “Foreign investors also bought [EGP 3.8 bn] of six- and 12-month notes in a finance ministry auction on Thursday,” according to Khallaf. Yields on six-month notes rose by 73 basis points to 19.39% and by 69 points on 12-month notes to 19.24%, he added.