Egypt’s c. bank issues $500m in T-bills

The Central Bank of Egypt (CBE), in coordination with the Ministry of Finance, is auctioning on Monday dollar-dominated treasury bills worth $500 million, according to a CBE statement on its website.

The T-bills will have a maturity of 364 days, falling under the category of short-term government debt instruments.

The Ministry of Finance authorises the CBE to manage the issuance of these bills throughout the financial year, with proceeds used to finance and cover expenditures outlined in the state’s current financial year budget (2023-2024).

(1 United States dollar = 47.31 Egyptian pounds)