Figures obtained by Daily News Egypt revealed that the Ministry of Finance intends to offer 27 bids for bills and treasury bonds worth EGP 270bn this month.
The Central Bank of Egypt (CBE), which undertakes this task on behalf of the government, will launch on 16 December tenders for bills worth EGP 217bn and 11 tenders of bonds worth EGP 53bn.
According to the plan, the ministry is scheduled to offer four bids worth EGP 31bn for a period of 91 days, four for a period of 182 days at a value of EGP 19bn, four bids worth EGP 81bn for a period of 273 days, and another four for a period of 364 days at a value of EGP 86bn.
Additionally, the ministry will issue four bids for zero coupon treasury bonds for a period of one and a half years at a value of EGP 23bn, four bids for three-year bonds at a value of EGP 29bn, a bid for a period of five years at a value of EGP 500m, and two bids for a period of seven years at a value of EGP 500m.
The banks operating in the Egyptian market are the largest sectors investing in bonds and treasury bills that the government offers periodically to cover the state budget deficit.
These bonds and bills are offered through 15 banks that participate in the Primary Dealers System in the primary market and then these banks resell part of them in the secondary market to individual and local and foreign institutional investors.
The ministry revealed that the volume of outstanding balances of local treasury bills and bonds amounted to about EGP 4.348 trillion at the end of October 2022.
Also, according to the latest report published by the ministry on its website, the volume of outstanding balances of treasury bills at the end of October amounted to about EGP 1.767 trillion, while the volume of outstanding balances of bonds amounted to approximately EGP 2.58 trillion.