CBE issues LE 2.5B in T-bonds Monday

CAIRO – 5 August 2018: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 2.5 billion in treasury bonds on Monday, August 5.

The T-bonds were offered in two installments, with the first valued at LE 1.25 billion with a three-year term and the second worth LE 1.25 billion with a seven-year term.

The Monetary Policy Committee of the Central Bank of Egypt (CBE) kept the overnight deposit rate and the overnight lending rate at 15.75 percent and 16.75 percent, respectively, during July’s meeting.

For the current fiscal year, the budget deficit is estimated to record LE 445.1 billion, or 7.2 percent, planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.