Egypt Offers 3-, 10- Year T-Bonds Worth EGP 1.5 Bln On Monday

By Administrator On Jan 28, 2013

The Egyptian Ministry of Finance offers 3- and 10- year T-bonds worth EGP 1.5 billion On Monday.

The Ministry stated it will offer 3-year T-bonds worth EGP 1 billion and 10-year T-bonds worth EGP 500 million in an auction today.

The Ministry targets to sell treasury bills and bonds worth EGP 97.5 billion in February and March. The Ministry sells government debt instruments in order to finance the widening budget deficit which is expected to reach EGP 200 billion by the end of the current fiscal year.

The Central Bank of Egypt (CBE) sells treasury bills and bonds on behalf of the Ministry of Finance.