Egypt’s Ministry of Finance aims to offer 52 treasury bill (T-bill) issuances worth EGP 686.5bn and 39 bond issuances worth EGP 131.5bn from 1 July to 30 September 2022. The Central Bank of Egypt, which undertakes this task on behalf of the government, will issue T-bills and bonds worth EGP 251bn in July, to be followed by more issuances worth EGP 315bn in August, and issuances worth EGP 251bn in September. The Ministry is also scheduled to offer 3-year bonds worth EGP 26.5bn, 5-year bonds worth EGP 6bn, 7-year bonds worth EGP 3.5bn, and 10-year bonds worth EGP 1.5bn. The banks operating in the Egyptian market are the largest sectors investing in bonds and treasury bills, which the government periodically offers to cover the state’s budget deficit. In the same context, the Ministry of Finance revealed that the volume of outstanding balances of domestic treasury bills and bonds reached about EGP 3.830trn in May 2022.

Source: Daily News Egypt July 03, 2022 11:37 UTC