Egypt's lucrative carry trade in the balance after recent dips

Analysts and bankers expect foreign investors to largely roll over their holdings of Egyptian Treasury one year after an IMF deal and record UAE investment rescued a faltering economy. Local currency T-bills worth 1.08 trillion Egyptian pounds ($21.3 billion) are due to mature in March. Most are one-year bills bought soon after Egypt signed an $8 billion financial support agreement with the International Monetary Fund on March 6, 2024, according to estimates from one Egypt-based banker.