The Central Bank of Egypt issues LE 27.5 in T-bills

by Local Media

On behalf of the ministry of finance, the Central Bank of Egypt (CBE) is issuing a treasury bill (T-bills) in the amount of EGP 27.5 bn.

These T-bills are supplied in two installments, the first one estimated EGP 7.5 bn with a 91-day term, while the second amounts to EGP 20 bn with a 273-day term.

Throughout December, 27 bids and a value of EGP 270 bn in bonds are set to be provided by the Ministry of Finance, serving its plan to borrow EGP 878.5 bn from the local market within the new fiscal year’s second quarter.

The government regularly offers T-bills and bonds from the banks operating in the Egyptian market to cover the general budget shortage of the state; these banks are considered the biggest investing sectors.

The governments take loans using T-bills and bonds over variant time intervals, government banks being the biggest buyers of them.

The Ministry of finance had unveiled that the outstanding balances of local bonds and treasury bills have reached EGP 4.4.348 trill. by the end of October 2022.

The Ministry’s most recent report revealed that the volume of outstanding balances of bonds was valued at EGP 2.580 trill. by the end of October, whereas the treasury bills reached EGP 1.767 trill.

 

 

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