The Central Bank of Egypt (CBE), which undertakes this task on behalf of the government, will offer T-bills and bonds worth EGP 341bn in July, more issuances worth EGP 425.75bn in August, and others worth EGP 340bn in September. According to the plan, the ministry is scheduled to offer T-bills worth EGP 295.5bn for a period of 91 days, EGP 243.5bn for a period of 182 days, EGP 224.5bn issuances for a period of 273 days, and EGP 310.5bn offer for 364 days. The banks operating in the Egyptian market are the largest sectors investing in bonds and treasury bills that the government offers periodically to cover the state budget deficit. These bonds and bills are offered through 15 banks that participate in“primary dealers” system in the“primary market”. The Ministry of Finance recently revealed that the volume of outstanding balances of local treasury bills and bonds amounted to about EGP 4.3trn in April 2023.

Source: Daily News Egypt July 09, 2023 11:16 UTC