$22 billion ‘hot money’ left Egypt
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However, Maait said the country had managed to pay all its commitments and investors of that kind of investment had restored their own money in time.
Earlier in June, Maait said the country have learned the message and not to depend on that type of investment and could no longer depend on foreign purchases of treasuries to finance its budget, but must work to boost foreign direct investment (FDI) instead.
“It is coming just to get high yields, and once there is a shock it leaves the country,” Maait explained. ■