Cairo – Mubasher: The Central Bank of Egypt (CBE) has accepted higher bids by $64,900 in the recent USD treasury bills (T-bills) auction, which holds a maturity date on 5 January 2021.
The CBE has accepted $864.9 million T-bills offered through 34 bids, with a weighted average yield of 3.54%.
Noteworthy to mention, the CBE announced in December that Egypt will issue 364-day T-bills worth $800 million on Tuesday, 7 January.
Previously, the World Bank said that Egypt’s foreign debt rose to $108.699 billion by the end of the second quarter of 2019, compared to $106.22 billion in the first quarter in the same year.
Meanwhile, the Egyptian finance minister Mohamed Maait disclosed that Egypt plans to increase its share of long-term debt to 40% of its annual issuances by the end of fiscal year 2019/2020.
Moreover, Egypt seeks to decrease its debt-to-gross domestic product (GDP) ratio to 82.5% by the end of June 2020 and to 77.5% by the end of June 2022.
