Masress : Foreign investments in Egypt's T-bills increase to $22.866bn in June 2021: CBE

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Foreign investments in Egypt's T-bills increase to $22.866bn in June 2021: CBE
Net foreign assets in Egypt's banking system up by EGP 125.8bn from July 2020 to May 2021

Hossam Mounir Published in Daily News Egypt on 14 - 08 - 2021

The Central Bank of Egypt (CBE) revealed that investments by foreigners in Egyptian Treasury bills (T-bills) rose to $22.866bn (or EGP 359.6bn) in June 2021, compared to about $22.25bn (EGP 349.9bn) in May 2021, an increase of $616m.
According to a recent report by CBE, the total outstanding balances of T-bills amounted to about EGP 1.588trn in June, compared to EGP 1.554trn in May.
CBE explained that the investments of public sector banks in T-bills reached EGP 262.057bn in June, up from EGP 252.291bn in May, while the investments of private sector banks amounted to about EGP 350,546bn, compared to EGP 344.790bn in the comparison period.
The CBE report revealed that the investments of specialised banks in T-bills increased to about EGP 32.948bn in June, compared to EGP 30.468bn in May, while the investments of foreign bank branches amounted to EGP 46.022bn compared to EGP 46.801bn.
Meanwhile, CBE revealed that net foreign assets of the banking system rose by the equivalent of EGP 125.8bn during the period from July 2020 to May 2021, to reach the equivalent of about EGP 247.966bn.
It clarified, in its monthly report, that this increase came as a result of the increase in net foreign assets at banks, equivalent to EGP 60.3bn and net foreign assets at the Central Bank, equivalent to EGP 65.5bn.
The Central Bank indicated an increase in net domestic assets, during the same period, by EGP 592.7bn or 13.4%, as a result of an increase in domestic credit by EGP 448.4bn at a rate of 9.3%, and a decrease in the negative balance of net budget items by EGP 144.3bn at a rate of 33.5%.
It explained that domestic credit rose as a result of an increase in net liabilities from the private business sector by EGP 159.5bn from the household sector by EGP 97.7bn and from the government by EGP 196.6bn. And in return, liabilities from the public business sector decreased by EGP 5.4bn.

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