Central Bank of Egypt (CBE) data on Thursday showed that foreign investment in local currency in treasury bills fell to about 269 billion pounds (about $ 15 billion) at the end of July 2018.
According to the Ministry of Finance last April, foreign investments in debt instruments amounted to $ 23.1 billion by the end of March 2018.
According to the Central Bank's report issued on Thursday, foreigners withdrew about $ 8.1 billion from Egypt in four months between April and July of this year.
At the end of July, Finance Minister Mohammad Maait said that foreign investments in debt instruments in his country amounted to 17.5 billion dollars at the end of June since the liberation of the pound.
At the time, he said that his country had absorbed the shock of foreign investments coming out of emerging markets after the interest rate on the dollar had increased and that investments were starting to return.
The Central Bank's decision to liberalize the local currency exchange rate on 3 November 2016 helped revive foreign flows on government bonds and treasury bills.
Economists warn of the risk of foreign investments in Egyptian debt instruments as they are likely to be liquidated by any tensions or any need for liquidity by foreign investors.