A file photo of Egypt's Central Bank in Cairo (Photo: Reuters)
Egypt’s Central Bank (CBE) is to issue on Thursday treasury bills worth EGP 18.7 billion in two auctions.
The first 357-day-term treasury bill is to be issued worth EGP 9.2 billion, while the second 182-day-term treasury is worth of EGP 9.5 billion.
The CBE issues treassury bills on behalf of the Ministry of Finance on Sunday and Thursday.
Last Sunday, the CBE issued LE 18 billion in treasury bills.
Foreign investments in government debt instruments have reached $17.1 billion since the floatation of the Egyptian currency and until the end of July 2018.
This is lower than the $23.1 billion recorded at the end of March 2018.
Egypt's funding needs in the 2018-2019 fiscal year are about EGP 714 billion, of which EGP 511 billion should come from domestic debt instruments and the rest will be from external financing through bond issuances and the IMF loan.