A man walks past a currency exchange shop displaying a giant US dollars banknote in downtown Cairo on November 3, 2016. AFP / KHALED DESOUKI
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Egypt's $18B debt inflows peakingForeign investors may be finally curbing their enthusiasm for Egyptian local-currency debt. After almost a year and $18 billion of purchases, some investors have allocated all they can to Egypt. The inflows from foreign funds are still growing, but the pace has slowed to an average of 2 percent a week since mid-August, down from 8 percent, as policy makers signaled they may lower record interest rates once inflation eases. Egypt received about $7.9 billion in foreign direct investment in the fiscal year ended June 30, up from $6.9 billion a year earlier but below its $10 billion target.
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