The Central Bank of Egypt (CBE) auctioned LE40 billion ($1.3 billion) in treasury bills (T-bills) in two maturities on Tuesday, to fund the government debt.
The first issue, worth LE22.5 billion, has a 91-day tenor that matures on 3 October. The second issue, worth LE15.7 billion, has a 273-day tenor that matures on April 2, 2024.
The CBE typically issues T-bills on behalf of the Ministry of Finance to fund the budget deficit.
On 26 June, the CBE auctioned LE43 billion in T-bills in two issues, of which around LE2.2 billion in bids have been accepted at an average yield of 23.5 percent.
Egypt’s foreign debt fell during the first quarter (1Q) of FY2022/2023 (July-September) to $154.9 billion, down from $155.7 billion in the corresponding quarter of FY2021/2022.
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