Government bids for LE 2.25B in T-bonds Monday

CAIRO – 15 January 2018: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to auction LE 2.250 billion ($126.83 million) in treasury bonds (T-bills) Monday.

Egypt’s central bank holds T-bonds auctions every Monday. The T-bonds are to be offered in two installments, with the first valued at LE 1.250 billion with a five-year term and the second worth LE 1 billion with a 10-year term.

The budget deficit is expected to stand at LE 322 billion by the end of fiscal year 2017/18, to be filled by treasury bills and bonds issued by the CBE, and through Arab and foreign loans and grants.