Egypt to Auction T-bills worth 5.5 billion Pounds Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91 and 266-day treasury bills worth EGP 5.5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day is at value of EGP 2 billion, whereas the second offering; the 266-day amounts to EGP 3.5 billion.

Within this month, Egypt’s newly-appointed government led by Ibrahim Mehleb is targeting the offering of treasury bonds and treasury bills totaling EGP 69 billion, distributed as EGP 35 billion short-term treasury bills and EGP 34 billion long-term treasury bonds. The government is seeking to fill the state’s widening budget deficit which recently reached EGP 119.4 billion.