Government borrows LE 13.7B in T-bills Sunday

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Sun, 05 Nov 2017 - 09:36 GMT

BY

Sun, 05 Nov 2017 - 09:36 GMT

People walk in front of the Central Bank of Egypt's headquarters at downtown Cairo, Egypt - Reuters

People walk in front of the Central Bank of Egypt's headquarters at downtown Cairo, Egypt - Reuters

CAIRO – 5 November 2017: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to auction LE 13.7 billion ($774million) in treasury bills (T-bills) Sunday.

Egypt’s central bank holds T-bills auctions every Sunday and Thursday.

The T-bills are to be offered in two installments, with the first valued at LE 7 billion with a 266-day term and the second worth LE 6.7 billion with a 91-day term.

The budget deficit is expected to stand at LE 322 billion by the end of fiscal year 2017/18, to be filled by treasury bills and bonds issued by the CBE, and through Arab and foreign loans and grants.

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