Egypt to issue $600m in one-year dollar-denominated T-bills

People and vehicles are seen caught in a traffic jam in front of the Central Bank of Egypt's headquarters in downtown Cairo. (File photo: Reuters)

Egypt's central bank said on Sunday it would offer $600 million in one-year, dollar-denominated treasury bills for issue on June 17, with the auction set for June 16.

In an emailed statement, the bank listed eligible subscribers as local banks and foreign financial institutions.

The government has turned mainly to the local money market to finance its public deficit since Egypt's popular uprising in early 2011 deterred most foreign investors.

 

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Last Update: Wednesday, 20 May 2020 KSA 09:42 - GMT 06:42
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