$2.63 billion.. Egypt's US bonds holdings increased in June 2023
in July 2023, the United States government, through USAID, launched the Entrepreneurship Centers Development Program (RIPPLE) in partnership with the League of Arab States and the Arab Academy for Science, Technology and Maritime Transport.
Shrouq
The US Treasury Department announced that Egypt’s holdings of US Treasury bonds during June 2023 increased by 148.2% on a monthly basis, to $2.73 billion, compared to $1.1 billion last May.
$163 million
According to the US Ministry's report, the increase in long-term bonds rose to $2.63 billion from $1.013 billion, and short-term bonds were stable. It is noteworthy that after the recent increase, Egypt's holdings of US debt are only about $163 million less than their levels by the end of 2022.
Egypt's holdings of US Treasury bonds include the holdings of the Central Bank and other sectors, including banks. National and Commercial International Banks are among the investors who own US Treasury bonds.
$24.4 billion
Egypt's holdings of US Treasury bonds include the holdings of the Central Bank and other sectors, including banks. National and Commercial International Banks are among the investors who own US Treasury bonds.
According to data available on the US Treasury website, Egypt's highest investment in US bonds amounted to $24.4 billion at the end of February 2020.
Partnership between the two countries
On related context, The Egyptian and American Foreign Ministers, Sameh Shoukry and Anthony Blinken, stressed the importance of working to strengthen the strategic partnership between the two countries, by advancing various developmental, economic and military cooperation frameworks.
This came during a phone call that Shoukry made today, Monday, with his American counterpart, the Foreign Ministry said in a statement.
The two ministers stressed their keenness to continue coordination and consultation during the coming period, in order to follow up the paths of cooperation between the two countries, and to work jointly to face the growing challenges in the region.
They also discussed developments on the regional and international arenas, especially the situation in Sudan, Libya and Niger, and the results of the meeting of the Arab Liaison Committee on Syria, in addition to the recent developments in the occupied Palestinian territories.
Develop entrepreneurship
on the other hand, in July 2023, the United States government, through USAID, launched the Entrepreneurship Centers Development Program (RIPPLE) in partnership with the League of Arab States and the Arab Academy for Science, Technology and Maritime Transport.
The Ripple program will work with ten Egyptian universities to establish and develop entrepreneurship centers for university students. These centers will nurture and encourage innovative business ideas that will help stimulate job creation
These 10 centers will provide student entrepreneurs with resources, mentorship, guidance and training to help them come up with new business ideas and grow their businesses. The program creates entrepreneurship centers in universities, with a focus on Egypt's youth, a population group vital to economic development.
