The Ministry of Finance has unveiled its plan to issue 32 treasury bill (T-bill) and bond auctions in March, totaling EGP 730bn. This includes 16 treasury bill auctions worth EGP 640bn and 16 bond auctions amounting to EGP 90bn. The move is part of the government’s strategy to refinance existing debt and bridge the state budget deficit.
According to the ministry’s official announcement, the Central Bank of Egypt (CBE), acting on behalf of the government, will conduct four treasury bill auctions with a 91-day maturity, valued at EGP 130bn. Additionally, four auctions will be held for 182-day bills, worth EGP 170bn, along with another four auctions for 273-day bills at the same value. The plan also includes four auctions for 364-day treasury bills, totaling EGP 170bn.
On the bond front, the ministry will issue a variety of instruments. Four two-year bond auctions are set to be offered, collectively valued at EGP 18bn. Additionally, two three-year bond auctions will be conducted, amounting to EGP 5bn, while four floating-rate three-year bond auctions will total EGP 44bn. The plan further includes a single auction for five-year bonds worth EGP 20bn, alongside two floating-rate five-year bond auctions valued at EGP 3bn.
Egyptian banks remain the primary investors in treasury bills and bonds, which the government regularly issues to finance its budgetary needs. These securities are offered through 15 banks participating in the Primary Dealers System in the primary market. Banks subsequently resell portions of these instruments in the secondary market to local and international investors, including institutions and individuals.
