CAIRO - 8 October 2023: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 46.75 billion in treasury bills and bonds (T-bills and Bonds) on Sunday, Oct. 8.
The T-bills were offered in two installments, with the first valued at LE 20 billion with a 182-day term, and the second worth LE 26.5 billion with a 364-day term.
Moreover, LE 250 million with a five-year term was offered in T-bonds.
Banks operating in the Egyptian market are the largest investors in the treasury bills and bonds regularly offered by the government to cover the state's general budget deficit.
These bonds and bills are offered through 15 banks participating in the "Primary Dealers" system in the primary market, and these banks resell a portion of them in the secondary market to individual and institutional investors, both domestic and foreign.
The Ministry of Finance recently reported that the outstanding balances of local treasury bills and bonds amounted to approximately LE 4.67 trillion at the end of August 2023.
According to a report published by the ministry on its website, the outstanding balances of treasury bills amounted to about LE 2.449 trillion, while the outstanding balances of treasury bonds amounted to about LE 2.25 trillion.
Comments
Leave a Comment