The Ministry of Finance has announced its intention to launch six Treasury bill (T-bill) and bond auctions worth EGP 143bn in the third week of July. Acting on behalf of the government, the Central Bank of Egypt will conduct four Treasury bill auctions totalling EGP 135bn. These auctions include a 91-day bill auction worth EGP 40bn, 182-day bills worth EGP 35bn, 273-day bills worth EGP 20bn, and 364-day bills worth EGP 40bn.
In addition, two bond auctions worth EGP 8bn are scheduled: a two-year bond auction worth EGP 2bn and a three-year bond auction worth EGP 6bn.
Typically, T-bill auctions take place on Sundays and Thursdays, while bond auctions occur on Mondays.
As of the end of January 2024, the total outstanding balance of local treasury bills and bonds reached approximately EGP 4.966trn. According to the latest report published on the ministry’s website, the outstanding balance of treasury bills amounted to around EGP 2.734trn, while the outstanding balance of treasury bonds was approximately EGP 2.232trn.
Banks operating in the Egyptian market play a significant role as investors in the treasury bills and bonds issued by the government to cover the state budget deficit. These securities are initially issued through 15 banks participating in the primary dealer system in the primary market. Subsequently, some of these securities are resold in the secondary market to individual and institutional investors, both local and foreign.
