Egypt’s Central Bank issues 14 bln pounds in treasury bills on Sunday

On behalf of the Ministry of Finance, the Central Bank of Egypt is set  to issue 14 billion  Egyptian pounds ($791 million) in treasury bills (T-bills) on Sunday.

 The T-bills are to be offered in two installments; the first is valued at 6.5 billion  pounds at a 91-day term, while the second is valued at 7.5 billion pounds at a 266-day term.

T-bills are usually issued every Sunday and Thursday.

For the current fiscal year, the budget deficit is estimated by 370 billion pounds; the ministry planned to finance the deficit through treasury bills and bonds and through international and Arab loans.