Egypt to Offer US$1bn T-bills Within Next Week

The Central Bank of Egypt (CBE) said on Wednesday that it will offer 1-year US$1 billion treasury bills to issue it on January 14.

The Egyptian government turned into local money market in order to finance the budget deficit as it affected because of January25 Uprising in 2011 and reluctance most of foreign investors.

The local banks are about to lend the government with Egyptian Pounds to reach the maximum limits.