November 30, 2021

Egypt to issue $604m of treasury bonds

CAIRO: The Central Bank of Egypt will issue 9.5 billion Egyptian pounds ($604.3 million) in treasury bonds on Monday to finance the country’s budget deficit.

The T-bonds will be issued in coordination with the Finance Ministry.

In a statement posted on its website, the central bank said the value of the first offering is 8 billion pounds for two years. The value of the second offering is 1 billion pounds for 5 years and the value of the third offering is 500 million pounds for a period of 10 years.

The government borrows through bonds and treasury bills and government banks are the largest purchasers of these financial instruments.

The Ministry of Finance estimated the financing gap for the state’s general budget during 2021/2022 at about 1.06 trillion pounds, compared to 997.733 billion pounds during the last fiscal year, an increase of 6.31 percent, which will be financed through borrowing and issuance of securities.

Egypt had received $2.7 billion from the International Monetary Fund.

The Monetary Policy Committee of the Central Bank of Egypt decided to keep the overnight deposit and lending rate and the central bank’s main operation rate unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively.

Last month, the committee announced that the interest rate would be fixed for the seventh time in a row this year.


Categories : banking

Finance & Economy

HHD’s legal counsel sets final terms of partnership contract with Mountain View

2022-01-21 08:00:00

ArabFinance: The legal counsel of Heliopolis Housing and Development (HHD) (HELI) and the Holding Company for Construction and"...
Read More

MOPCO to set up new plant for melamine ...
January 21, 2022
Fawry’s board nods to capital incr...
January 21, 2022

Latest News


CIB issues $100M green bonds
January 18, 2022
Dollar prices stable at Egypt's major ba...
January 15, 2022
The Future of the Point of Sale Is Here:...
January 14, 2022