Egypt's Central Bank Issues Le 22 Billion in T-Bills, Bonds Sunday

The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 22 billion in treasury bills and bonds on Sunday, July 25.

The T-bills were offered in two installments, with the first valued at LE 5.5 billion with a 182-day term, and the second worth LE 14.5 billion with a 364-day term.

As for T-bonds, the CBE offers them at LE 2 billion with a 7-year term.

Earlier, the Ministry of Finance announced the possibility of reducing the accepted quantities of bills and bonds bids on the public treasury, issued in local currency until the end of the current fiscal year.

For the current fiscal year, the budget deficit is estimated to record 6.6 percent of gross domestic product (GDP), planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.

The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday, June 17, to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively. The discount rate was, also, kept unchanged at 8.75 percent.

Egypt Today

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.