Central Bank Governor Farouk al-Oqda has estimated the total foreign investment withdrawn from Egyptian treasury bonds and bills between 20 January and 31 March at US$7.5 billion.
“It is not a huge figure,” he said. “It can be recuperated when the economy gets back to normal.”
Al-Oqda also said that the total foreign investment withdrawn during the global financial crisis was US$16 billion.
For his part, Assistant Central Bank Governor Hisham Ramez said that Egypt’s international reserves decreased from US$33.2 billion in February to US$30.1 billion in March.
Also, economy expert Mostafa al-Assal said that only 10 percent of foreign investors did not sell their bonds or bills, and that the total dealing now stands at US$1 billion, as opposed to US$10 billion before the revolution.
Translated from the Arabic Edition
