Al MAl-


The Central Bank of Egypt(CBE) will offer treasury bills worth EGP 60 billion next Thursday, for a period of 182 and 364 days, in coordination with the Ministry of Finance to finance the budget deficit.

Treasury bills are defined as a government debt instrument issued for a period ranging from three months to a year; therefore, they are considered short-term securities. The value of the first offering, according to the Central Bank website, is about EGP 40 billion, for a period of 182 days, while the value of the second offering is EGP 20 billion, for a period of 364 days.

The Ministry of Finance authorizes the Central Bank, throughout the fiscal year, to manage its own offerings of treasury bills and bonds in Egyptian pounds, with the proceeds to be financed and spent on the items of the state’s general budget for the current fiscal year.
It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt had decided in its last meeting to maintain the overnight deposit and lending rates and the Central Bank’s main operation rate at 27.25%, 28.25% and 27.75% respectively, and it also decided to maintain the credit and discount rate at 27.75%.