Egyptian holdings of US Treasuries
According to the treasury dept website, Egypt currently holds 34.2 Billion in US Treasuries (most likely in Bonds?).
1. Do these bonds get transferred over to the next government?
2. Will Egypt continue to purchase Treasuries in the coming months?
3. Or will the next government start selling off their shares?
Just a question that came to mind… let me know your thoughts!
Okay… perhaps I jumped the gun on the whole next government thing.. seeing that the protests are still going on in Cairo. I really hope that Egyptian people are safe.
I was just wondering how a country like Egypt can afford to purchase $14.8 billion of US Treasuries from Dec 2009 through Dec 2010 ( http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt )
When it receives $200 million in economic aid from the US in 2009? ( http://www.carnegieendowment.org/publications/index.cfm?fa=view&id=23282 )
Judging by the views, my topic is getting some clicks.
Am I just asking a stupid questions here? Does any of this make any sense?