Egypt’s central bank issues LE 20B on T-bills Sunday

Egypt’s central bank issues LE 20B on T-bills Sunday

CAIRO - 11 October 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 20 billion in treasury bills (T-bills) on Sunday, Oct. 11.



 



The T-bills will be offered in two installments; the first installment is valued at LE 8.5 billion with a 182-day term and the second is worth LE 11.5 billion with a 364-day 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, Sept. 24, to cut the overnight deposit rate, overnight lending rate, and the rate of the main operation by 50 basis