CBE to issue $600 million in one-year dollar-denominated T-bills

Egypt’s central bank announced on Sunday it would offer US$ 600 million in one-year, dollar-denominated treasury bills for issue on June 17, with the auction set for June 16.

In an emailed statement, the bank listed eligible subscribers as local banks and foreign financial institutions.

The government has turned mainly to the local money market to finance its public deficit since Egypt’s popular uprising in early 2011 deterred most foreign investors.

Source: Reuters