Mubasher TV
Contact Us Advertising   العربية

CBE sells EUR 610m T-bills

CBE sells EUR 610m T-bills
The average yield on T-bills reached 1.49%

Cairo – Mubasher: The Central Bank of Egypt (CBE) announced the sale of euro-denominated treasury bills (T-bills) worth EUR 610 million.

The average yield on the 364-day T-bills offered on Monday reached 1.49%, the CBE said via its official website.

Egypt’s Ministry of Finance aims to diversify its financing sources and resort to long-term financial instruments instead of short-term loans.  

At the end of June, the most populous Arab nation’s public debt to gross domestic product (GDP) ratio dropped to 90.5% from 98% in June 2018. 

The Egyptian government seeks to further cut the country's debt to GDP ratio to 82.5% by the end of June 2020 and 77.5% by the end of June 2022.