Pre-Trading Thoughts

CBE repaid foreign debt obligations in 9M FY21/22 of USD20 billion. Egypt's external debt continued to grow to USD157.8 billion as of March 2022, +17% YoY, and 34.6% of GDP. GCC deposits with the Central Bank of Egypt amounted to about USD14.9 billion as of March 2022, with 8 deposits due to KSA, UAE and Kuwait. Foreign holdings of Egyptian treasury bills rose for the first time in five months in June 4% to USD15.71 bn from USD15.1 bn in May. Saudi Wealth Fund is intereste...