Egyptian C. Bank to Auction EGP6.5 bln T-Bills Tomorrow

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt (CBE) will offer tomorrow 182 and 357-day treasury bills worth EGP 6.5 billion.

Throughout its official website, the CBE stated that the first offering; 182-day is at value of EGP 2.5 billion, whereas the second offering; the 357-day amounts to EGP 4 billion.

Ibrahim Mehleb’s new current government aims to borrow EGP69 billion within the current month in order to finance the deficit budget which reached EGP119.4 billion in seven months and to manage the necessary finances.

Meanwhile, Al- Beblawi’s interim government witnessed EGP540 billion borrowing in form of bonds and bills in the period from July to February.