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The Central Bank of Egypt (CBE) is offering treasury bills totaling EGP 60 billion today, Sunday, as part of its liquidity management mechanisms and in implementation of the Ministry of Finance’s plan to finance the state’s general budget needs.

The offering is divided into two tranches: the first is valued at EGP 20 billion for a 91-day term, while the second is valued at EGP 40 billion for a 273-day term, according to data announced on the CBE’s official website.

Treasury bills are short-term debt instruments issued by the government with maturities ranging from three months to one year. Investors from banks and financial institutions are keen to use surplus liquidity in a safe and rapid-return manner.

These offerings come in light of the accommodative monetary policy pursued by the CBE. The Monetary Policy Committee, in its last meeting, decided to reduce key interest rates by 100 basis points, bringing the overnight deposit rate to 24% and the overnight lending rate to 25%. The main operation rate and the credit and discount rates remained unchanged at 24.5%.

The General Budget Law authorizes the Ministry of Finance to issue domestic debt instruments, with the Central Bank of Egypt managing the offerings on behalf of the Ministry throughout the fiscal year. The proceeds will be used to finance public spending and address the deficit gap.

The Central Bank of Egypt (CBE) is offering EGP 60 billion in treasury bills today, in coordination with the Ministry of Finance.

The Central Bank of Egypt (CBE) is offering EGP 60 billion in treasury bills today, Sunday, as part of its liquidity management mechanisms and in implementation of the Ministry of Finance’s plan to finance the state’s general budget needs.

The offering is divided into two tranches: the first, valued at EGP 20 billion, has a 91-day maturity, while the second, valued at EGP 40 billion, has a 273-day maturity, according to data published on the Central Bank’s official website.

Treasury bills are short-term debt instruments issued by the government with maturities ranging from three months to one year. Investors, including banks and financial institutions, are keen to use them as a safe and rapid-return investment method for excess liquidity.

These offerings come in light of the accommodative monetary policy pursued by the Central Bank. The Monetary Policy Committee, at its last meeting, decided to cut key interest rates by 100 basis points, bringing the overnight deposit rate to 24% and the overnight lending rate to 25%. The main operation rate and the credit and discount rates remained unchanged at 24.5%.

The General Budget Law authorizes the Ministry of Finance to issue domestic debt instruments, with the Central Bank of Egypt managing the offerings on behalf of the ministry throughout the fiscal year. The proceeds will be used to finance public spending and address the deficit gap.