Central Bank of Egypt issues LE 2.5B treasury bills on Monday

CAIRO – 22 January 2018: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth LE 2.5 billion on Monday on behalf of the Ministry of Finance (MOF), according to the CBE’s official website.

The first tranche of T-bills will be offered through a three-year note at the value of LE 1.5 billion, while the second offering will be through a seven-year note at LE 1 billion.

The budget deficit is expected to reach LE 370 billion in this fiscal year and it will be financed by the Central Bank of Egypt through issuing treasury bills and bonds, on behalf of the Ministry of Finance, and through Arab countries’ aids and international loans.