Outstanding treasury bills, bonds valued at $209mln in June 2022: Egypt’s ministry

Outstanding treasury bills, bonds valued at $209mln in June 2022: Egypt’s ministry

Egypt - The Ministry of Finance revealed that Egypt’s outstanding treasury bills and bonds valued at about EGP 3.96trn in June 2022.

According to a report released by the ministry on its website on Tuesday, the outstanding treasury bills amounted to about EGP 1.518trn in June, comprising EGP 844.599bn in 364-day bills, EGP 307.113bn in 273-day bills, EGP 122.625bn in 182-day bills, and EGP 244.320bn in 91-day bills.

These treasury bills will be due from 5 July 2022 to 28 July 2023, taking into account that other bills with the same deadlines are issued on a weekly basis.

Moreover, the outstanding bonds reached about EGP 2.441trn in June 2022, of which about EGP 217.026bn was in “Zero Coupon” bonds.

According to the Finance Ministry, these bonds will mature from 21 July 2022 to 18 January 2037, taking into account that other bond issuances are made on a weekly basis, just like the T-bills.

Figures obtained by Daily News Egypt earlier revealed the government’s intention to borrow EGP 818bn from the local market during the first quarter of fiscal year 2022/23, with the aim of financing the state’s budget deficit.

The government’s plan included 52 issuances of T-bills worth EGP 686.5bn and 39 bond issuances worth EGP