Egypt C.Bank to Auction T-bills worth 5 billion Pounds Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt is set to raise today 91- and 266-day treasury bills worth EGP5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP2 billion, whereas the second offering; the 266-day amounts to EGP3 billion.

the Egyptian government is targeting the issuance of treasury bonds and treasury bills totaling EGP 64 billion according to a timetable in the ongoing January and EGP70 billion in the next of February.

The total domestic debts of the state budget reached EGP1.5 trillion at the end of last September, equivalent to 21.6% of GDP, compared to EGP1.444 trillion by the end of June 2013, equivalent to 25% of GDP.