Today, Thursday 12/5/2024, the Central Bank of Egypt is issuing treasury bills worth 75 billion pounds, with a maturity of 182 and 364 days, in coordination with the Ministry of Finance to finance the budget deficit.
Treasury bills are defined as a government debt instrument issued for a period ranging from three months to one year. Therefore, it is considered a short-term security.
The value of the first offering, according to the Central Bank website, is about 40 billion pounds, for a period of 182 days, while the value of the second offering is 35 billion pounds, for a period of 364 days.
The Ministry of Finance authorizes the Central Bank, throughout the fiscal year, to manage its own offerings of treasury bills and bonds in Egyptian pounds, provided that it finances and spends the proceeds on items in the state’s general budget for the current fiscal year.
It is noteworthy that the Monetary Policy Committee of the Central Bank of Egypt had decided in its last meeting to maintain the overnight deposit and lending rates and the central bank’s main operation rate at 27.25%, 28.25% and 27.75%, respectively. It also decided to keep the credit and discount rates at 27.75%.
