Egypt Is Confident $23 Billion Debt Inflows Won't Flow Out
- Level of foreign money in T-bills is still ‘manageable’
- Finance Minister Amr El-Garhy speaks to Bloomberg TV
Egypt's Finance Minister on Financial Needs, Growth, Investment
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Egypt’s finance minister said he’s confident the $23 billion that foreigners invested in Egyptian Treasury bills will stay in the country, thanks to its improved credit profile and rising global liquidity.
The trade-off between risks and returns remains attractive, and investments have been rising in “recent weeks and months,” Amr El-Garhy said in an interview with Bloomberg TV. Credit rating companies, which haven’t significantly upgraded Egypt’s junk rating in the past two years, should give Egypt a “better look,” El-Garhy said.