Central Bank of Egypt issues government debt instruments worth USD1.5B
(MENAFN) The Central bank of Egypt is issuing government debt instruments, including bonds and treasury bills, worth 78.5 billion pounds (USD1.5 billion) over two days to finance the budget deficit. This comes as Egyptian debt instruments become more attractive to investors, while yields continue to decline, reaching their lowest level in five months, according to bank data.
In December, the bank’s Monetary Policy Committee decided to keep interest rates unchanged for the sixth consecutive time to support the appeal of government debt instruments and encourage investment.
According to data from the Central Bank of Egypt’s website, treasury bills will be issued today, Sunday, with a total value of 25 billion pounds for a three-month term and 40 billion pounds for a nine-month term.
Additionally, fixed-return bonds in Egyptian pounds will be offered tomorrow, amounting to 8 billion pounds for a three-year term and 2 billion pounds for a two-year term. Variable-return bonds will also be issued, totaling 2 billion pounds for a three-year term and 1.5 billion pounds for a five-year term.
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