Egypt’s central bank issues LE24B on T-bills, bonds Sunday

Egypt’s central bank issues LE24B on T-bills, bonds Sunday

CAIRO - 23 August 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 24 billion in treasury bills and bonds on Sunday, Aug. 23.



 



The T-bills will be offered in two installments; the first installment is valued at LE 9.5 billion with a 182-day term and the second is worth LE 11 billion with a 357-day term. 



 



While t-bonds are valued at LE 3.5 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 on Aug. 13 to keep the overnight deposit rate, the overnight lending rate, and the rate of