Cairo – Mubasher: Egypt’s Ministry of Finance (MoF) intends to issue treasury bills and bonds with a value of EGP 371 billion in the first quarter of the fiscal year 2017-2018.
The treasury bills amount to EGP 349.5 billion, while the treasury bonds stand at EGP 21.5 billion, MoF added.
The value of debt instruments amounted to about EGP 342 billion in Q4 of FY16/17, and EGP 299 billion in Q3 of the same year.
Egypt’s debt instruments, especially the treasury bills are attracting a large number of foreign investors, with a growth of return that exceeds 20%.
Dependence on debt instruments has led to higher cost of debt in the state budget to reach EGP 380 billion in the coming fiscal year.
Maturities 91-day, 182-day, 273-day, 364-day treasury bills will be issued at EGP 84 billion, EGP 84.5 billion, EGP 90.5 billion, and EGP 90.5 billion, respectively.
Meanwhile, maturities 3-year, 5-year, 7-year, 10-year treasury bonds will be issued at EGP 6.25 billion, EGP 5.25 billion, EGP 4.75 billion, and EGP 5.25 billion, respectively.
