Egypt’s central bank issues LE 11B in T-bonds Monday

SourceEgypt Today
SectorFinancial Services

CAIRO – 16 November 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 11 billion in treasury bonds on Monday, Nov. 11.  The T-bonds were offered in three installments, with the first valued at LE 2.5 billion with a two-year term, and the second worth LE 5 billion with a five-year term. For the current fiscal year, the budget deficit is estimated to record 6.3 percent of gross domestic product (GDP), planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.    The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday, Nov. 12, to cut the overnight deposit rate, more...