Egypt's central bank issues LE 13B in T-bonds Monday

CAIRO – 4 January 2021: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 13 billion in treasury bonds on Monday, Jan. 4. 

The T-bonds were offered in two installments, with the first valued at LE 6 billion with a three-year term, and the second worth LE 7 billion with a seven-year term.

For the current fiscal year, the budget deficit is estimated to record 6.3 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, Dec. 24, 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. Moreover, the discount rate was also kept at 8.75 percent.