The Ministry of Finance announced plans to issue 29 treasury bills (T-bills) and bonds worth EGP 641bn in February to refinance maturing debt and cover the state’s budget deficit. The offerings include 16 treasury bills totaling EGP 580bn and 13 bonds worth EGP 61bn.
According to the ministry’s published plan, the Central Bank of Egypt (CBE), acting on behalf of the government, will issue four tenders for 91-day treasury bills worth EGP 110bn, another four tenders for 182-day bills worth EGP 150bn, four tenders for 273-day bills worth EGP 150bn, and four tenders for 364-day bills worth EGP 170bn.
The plan also includes four tenders for two-year bonds totaling EGP 13bn, two tenders for three-year bonds worth EGP 4bn, and four tenders for three-year variable-rate bonds amounting to EGP 36bn. Additionally, the ministry will offer one tender for five-year bonds worth EGP 5bn.
Egyptian banks remain the largest investors in government debt instruments, subscribing to treasury bills and bonds through the 15 banks operating under the primary dealers’ system. These banks often resell portions of the securities on the secondary market to both local and foreign investors, including individuals and institutions.
