Egypt to issue $1.250 bln one year dollar-denominated T-bill

Egypt’s Finance Ministry will issue $1.250 billion in one-year dollar-denominated treasury bills to local banks and foreign financial institutions on May 10, the central bank announced in a statement Thursday.

The auction deadline is May 9 and the maturity date for the issuance is May 9, 2017, the statement said.

The government has turned mainly to the local money market to finance its public deficit since a popular uprising in early 2011 that deterred many foreign investors.

Source: Reuters