Government bids for LE 13.75B in T-bills Sunday

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Sun, 08 Oct 2017 - 10:18 GMT

BY

Sun, 08 Oct 2017 - 10:18 GMT

 CBE - File photo

CBE - File photo

CAIRO – 8 October 2017: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is scheduled to auction LE 13.75 billion ($774.9 million) in treasury bills (T-bills) Sunday.

Egypt’s central bank holds T-bill auctions every Sunday and Thursday. The T-bills are to be offered in two installments; the first valued at LE 6.75 billion with a 91-day term, and the second worth LE 7 billion with a 266-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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