Egypt Fuels Record Reserves With External Debt Surge: Chart

(Bloomberg) -- Egypt's net foreign reserves have been rising steadily, hitting a record in July. The increase has been driven by heavy external borrowing as investors pour money into Egyptian assets following the government's lifting of most currency restrictions and the IMF's approval of a $12 billion loan. A total of $14 billion have flowed into Egyptian treasury bills, which are among the highest yielding in the world.

To contact the reporter on this story: Ahmed Feteha in Cairo at afeteha@bloomberg.net.

To contact the editors responsible for this story: Alaa Shahine at asalha@bloomberg.net, Stuart Biggs, Amy Teibel