CBE to Auction T-bonds worth EGP3 bln Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 3- and 7-year treasury bonds worth EGP 3 billion.

Throughout its official website, the CBE stated that the first offering; 3-year t-bonds is at value of EGP 2 billion, whereas the second offering; the 7-year t-bonds amounts to EGP one billion.

This comes in accordance with the Egyptian government’s plan to offer debt instruments to fill the country’s growing budget deficit which hit EGP 74.5 billion during the first 4 months of the current fiscal year.