Egypt’s Finance Says to Offer EGP5.5 bln T-bills Tomorrow

Egypt’s Ministry of Finance said it will be offering tomorrow Sunday 91- and 266-day treasury bills worth EGP 5.5 billion.

Through its official website, the ministry referred that the 91-day treasury bills are worth EGP 2 billion, whereas the 266-day T-bills are at value of EGP 3.5 billion.

It is worth noting that, the Egyptian finance ministry managed last Thursday to sell 182- and 357-day t-bills worth EGP 7 billion at interest rates of 13.513% and 14.012% respectively.

The Ministry of Finance depends mainly on the issuance of short-term financing instruments represented in treasury bills. Last year ministry of finance had sold EGP 533 billion t-bills. Moreover, last year also finance ministry had successively sold treasury bills and bonds worth EGP 614 billion which put pressure on the gross domestic debt.