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FinancialNews


  • 20-04-21

    Central Bank of Egypt marks treasury bonds to help clear government budget deficit

    (MENAFN)The Central Bank of Egypt marked treasury bonds valued at EGP 16.5 billion (USD1.05 billion), as part of efforts to support the Ministry of Finance clear the government budget deficit.

    The worth of the first offering stood at EGP 5 billion for a period of three years, the second offering reached to EGP 6 billion for a period of five years, and the third 10-year term offering worth at EGP 5.5 billion, stated the bank.

    The government set to financing the budget deficit by offering bonds and treasury bills as debt instruments, and government banks are their largest buyers.

    JP Morgan had chosen to include Egypt in its watchlist for government bonds for emerging markets, according to Minister of Finance Mohammed Maait.

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