CBE Egypt issues 15.5bn pounds treasury bills Sunday

Central Bank of Egypt (CBE) issued Sunday treasury bills worth 15.5 billion Egyptian pounds ($872.3 million), in coordination with the country’s Ministry of Finance (MoF) to support the country’s budget deficit.

The treasury bills were issued through two tranches, 91-day bills of 7.25 billion pounds, and 273-day bills of 8.25 billion pounds.

The ministry estimated the total budget deficit for financial year 2016/2017 of around 319 billion pounds, compared with 339 billion pounds in the previous year.

The MoF has issued debt instruments worth 371 billion pounds during the first quarter of financial year 2017/2018, the highest level since 2005.

Source: Mubasher