CAIRO – 25 January 2021: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 14 billion in treasury bonds on Monday, Jan. 25. The T-bonds were offered in three installments, with the first valued at LE 7.5 billion with a five-year term, the second worth LE 5.5 billion with a 10-year term, and the third worth LE 1 billion with a 15-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 Thursday, Dec. 24, to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively. Moreover, the discount rate was also kept at 8.75 percent.

Source: Egypt Today January 25, 2021 12:11 UTC