The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. AP
Outstanding T-bill balances represent the total amount of Treasury bills issued by the government which have not yet matured or been redeemed. T-bills are short-term government debt obligations with maturities of one year or less.
The total value of Egyptian T-bills held by foreign customers rose to EGP 392.5 billion in April, up from EGP 379.6 billion in March.
Meanwhile, T-bills held by private banks in Egypt declined to EGP 359.2 billion in April from EGP 388.7 billion the previous month.
Public sector banks' holdings of Egypt's T-bills totaled EGP 222.5 billion in April, down from EGP 245.7 billion in March.
The treasury bill outstanding balance tracks how much the government still owes to short-term bill holders, impacting short-term borrowing costs, liquidity conditions and monetary policy.
Egypt is currently experiencing a financing gap of $17 billion set to last through 2026, according to estimates from the International Monetary Fund (IMF).
The country is working on filling the gap mainly through the sale of state-owned enterprises, as well as through assistance from international financial institutions.
Egypt’s foreign debt jumped to $162.9 billion during the first half of the fiscal year 2022/2023, compared to $155.7 billion at the end of the previous fiscal year, according to CBE data.
According to recent reports, Egypt's budget deficit rose to over EGP 367 billion (nearly $12 billion) in the first half of FY2022/2023 (July-December 2022), accounting for around four percent of GDP.
Egypt's sovereign US-dollar-denominated bonds saw a slight increase in returns on international markets, rising over 1 percent, due to growing demand for bonds from frontier markets such as Pakistan and Ghana, as reported from Tradeweb via Reuters.
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