Central Bank of Egypt issues over $1b in treasury bills

JEDDAH, Sept 30 (Arab News): Egypt's central bank has issued treasury bills worth 50 billion Egyptian pounds ($1.06 billion) as the country seeks to manage liquidity and support government financing amid rising inflation.

One tranche offers 30 billion pounds in 91-day bills maturing on Dec. 31, and while the other covers 20 billion pounds in 273-day bills due July 1, 2025.

The move comes as part of the CBE's broader effort to curb inflation and provide investors with short- and medium-term investment options.

This follows a similar issuance on Sept. 26, when the Central Bank of Egypt offered treasury bills worth 50 billion pounds through two auctions.

The first tranche, valued at 30 billion pounds, carries a 182-day tenor, maturing on April 1, 2025. The second, totaling 20 billion pounds, will mature in 364 days on Sept. 30, 2025.

Earlier, on Sept. 22, the CBE auctioned treasury bills worth 60 billion pounds in two tranches.

The central bank plays a key role in managing Egypt's public debt and maintaining financial stability.