CAIRO – August 14, 2022: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is expected to issue LE 21.5 billion in Treasury Bills (T-bills) on Thursday, August 14.
The treasury bills were offered in two installments, the first worth LE 14 billion with a tenor of 91 days and the second worth LE 7.5 billion with a tenor of 273 days.
The government borrows through bonds and treasury bills over different periods, and public banks are the main buyers.
The Ministry of Finance intends to make 35 bids for treasury bills and bonds worth LE 315.5 billion in August, as part of a government plan to borrow LE 818 billion from the local market during the first quarter of the new financial year 2022/2023. .
According to the government’s plan, the Ministry of Finance intends to issue 20 bond tenders worth LE 264 billion and 15 bond tenders worth LE 51.5 billion. THE.
The CBE, which is undertaking this task on behalf of the government, will launch five offers in August for 91-day bills worth LE 72 billion, and five for 182-day bills worth LE 74 billion. LE, and another for 273 days, worth LE 38.5 billion.
Meanwhile, five bids for 364-day vouchers worth LE 79.5 billion are expected to be issued.
The plan also includes the offering of five “zero coupon” bonds with a duration of 1.5 years worth LE 36 billion, three three-year offerings worth LE 11.5 billion , and two 5-year deals worth LE 2 billion.
The Ministry of Finance is also offering three 7-year bond offerings worth LE 1.5 billion and two 10-year bonds worth LE 500 million.
Banks operating in the Egyptian market are the largest sectors investing in bonds and treasury bills, which the government periodically offers to cover the general state budget deficit.
The Ministry of Finance had disclosed that the volume of outstanding balances of local treasury bills and bonds stood at around LE 3,830 billion until the end of May 2022.
According to the latest report published by the ministry on its website, the volume of outstanding balances of treasury bills up to the end of May amounted to approximately LE 1,374 billion; including LE 858.77 billion in 364-day bills, LE 313.880 billion in 273-day bills and LE 115.252 billion in 182-day bills, in addition to LE 86.627 billion in 91-day bills.