Central Bank of Egypt auctions EGP 130 bln T-bills

Ahram Online , Tuesday 9 Jan 2024

The Central Bank of Egypt (CBE) auctioned EGP 130 billion treasury bills (T-bills) on Tuesday with four maturities between April 2024 and January 2025.

The Central Bank of Egypt (CBE)
The Central Bank of Egypt (CBE)


The new T-bills will be issued next Tuesday after the CBE receives bids.

Last week, the bank auctioned EGP 125 billion T-bills and accepted EGP 124.61 billion in bids.

Treasury bills are short-term zero-coupon securities issued at a discount and redeemed at face value at maturity.

The CBE issues T-bills on behalf of the Ministry of Finance to fund the budget deficit.

Egypt's budget deficit accounted for six percent of its GDP in the FY2022/2023. According to the latest data released by the CBE, Egypt's gross domestic debt reached EGP 4.74 trillion ($153.3 billion) in June 2020.

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