The move aims to avoid increasing the public debt service, the ministry added. The Ministry of Finance offered EGP 8bn worth of 91-day T-bills, for which it received about EGP 30.414bn worth of purchasing offers, with a return of about 22%. The ministry also tendered another T-bill issuance worth EGP 20bn for 273 days, for which it received about EGP 17.795bn worth of offers, with a return of about 23.5%. Figures obtained by Daily News Egypt earlier revealed the Ministry of Finance’s intention to issue 27 tenders of T-bills and bonds worth EGP 270bn during December. It comprises 16 T-bill tenders worth EGP 217bn and 11 bond tenders worth EGP 53bn.

Source: Daily News Egypt December 27, 2022 10:49 UTC