#budget
The Central Bank of Egypt (CBE) is auctioned USD 850 million (EGP 26.2 billion) worth of one-year USD-denominated treasury bills on Sunday, 31 December, in an effort to refinance existing debt. The auction recorded an average yield of 5.149 percent for these bills. Responding to a global interest rate hike in the last quarter of the previous year, the Ministry of Finance responded by doubling the interest rate on auctions of Treasury bills denominated in dollars or euros. Treasury bills…
