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00:46
Egypt's central bank issues 72 bln EGP in T-bills
STORY: Egypt's central bank issues 72 bln EGP in T-bills
SHOOTING TIME: File footage
DATELINE: Nov. 18, 2024
LENGTH: 00:00:46
LOCATION: Cairo
CATEGORY: ECONOMY
SHOTLIST:
1. various of Egypt's Finance Ministry
2. various of the Central Bank of Egypt
3. various of Egyptian banknotes
STORYLINE:
The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued treasury bills (T-bills) at a total value of EGP 72 billion through two offerings on Sunday.
With a tenor of 91 days, the first tranche was valued at about EGP 45 billion, according to official data.
The second offering stood at EGP 27 billion and will mature in 273 days.
Banks operating in the Egyptian market are the largest investors in government T-bills and bonds, which are regularly issued to cover the state budget deficit.
These bills and bonds are issued through 15 banks participating in the "Primary Dealers" system. The banks then resell a portion of the financial instruments to both foreign and local individuals and institutional investors in the secondary market.
Xinhua News Agency correspondents reporting from Cairo.
(XHTV)
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