Egypt’s central bank issues LE 6.5B in T-bonds Monday

Egypt’s central bank issues LE 6.5B in T-bonds Monday

CAIRO – 10 August 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 6.5 billion in treasury bonds on Monday, August 10. 



The T-bonds were offered in two installments, with the first valued at LE 3.5 billion with a five-year term and the second worth LE 3 billion with a 10-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 in June to keep the