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Egypt’s treasury bonds: high interest, but for what?

The government of President Abdel Fattah Al-Sisi promised to carry out a lot of economic reforms in the country, which require excessive effort and financing, as the president had mentioned many times during different speeches. The government has been asking for foreign help since Al-Sisi came to office, from Saudi Arabia, Kuwait, the United Arab …

Hisham Salah

Finance Ministry to offer $2.5-3bn in treasury bonds by mid-January

The government will offer US dollar treasury bonds worth $2.5-3bn in mid-January, according to Minister of Finance Amr El-Garhy. He added that another offer of the same value will take place in the second half of 2017. The ministry had initially intended to offer these bonds this week but five investment banks advised a postponement …

Hisham Salah

Egypt’s banking sector is optimistic about change

Recent improvements seen in the stock market and decreases in the cost of insuring government debt have reflected positively on the feelings of those working and operating within the sector, who recently decided to decrease return rates on Treasury bonds by 1%

Daily News Egypt

Costs of future government borrowing bogged down by uncertainty

Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.

Daily News Egypt

Finance Ministry issues EGP 4.5b in treasury bonds

By Asmaa Nabil The Central Bank of Egypt (CBE) is to issue treasury bonds today valued at EGP 4.6 billion. The first treasury bond is valued at EGP 1 billion, to mature in 91 days, and the second is valued at EGP 3.5 billion to mature in 266 days. The Ministry of Finance (MOF) also …

Daily News Egypt

Yields dip at Egypt bond auction as confidence grows

By Tom Pfeiffer / Reuters CAIRO: Yields edged lower at a sale of Egyptian treasury bonds on Monday, and traders said banks had demanded more than the amount offered due to growing confidence in the country’s democratic transition. Yields have eased at recent auctions although they remain near multi-year highs partly due to the absence of …

DNE

Signs of life in Egypt secondary bond market

By Tom Pfeiffer / Reuters CAIRO: Egypt’s secondary market in treasuries is flickering to life after a year of stagnation as companies plough excess cash into government paper and debt auctions fail to satisfy demand that is growing amid optimism that yields may have peaked. The market was introduced in late 2010 with the aim of …

DNE

Egypt attracts solid demand for 7-year government bonds

By Tom Pfeiffer and Mohamed Samir / Reuters CAIRO: Egypt attracted solid demand at an auction of seven-year treasury bonds on Monday amid optimism that foreign donors will help ease the country’s fiscal crisis, traders said. The army-backed government hopes to secure $3.2 billion of funding from the International Monetary Fund soon as it moves to …

DNE

Central Bank sells more 182-day T-bills than it offered

By Mohamed Samir / Reuters CAIRO: Egypt’s central bank sold more 182-day treasury bills than originally offered at an auction on Thursday, but trimmed the amount of 357-day T-bills it sold, the bank said. It sold LE4.5 billion ($745.50 million) of 182-day T-bills on behalf of the Finance Ministry instead of the LE3 billion it had …

DNE

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