Egypt to borrow EGP 633.25bn from local market

offerings worth EGP 467.5bn and 49 bond offerings worth EGP 165.75bn starting from October to December 2021.

It comes as part of the government’s plan to borrow EGP 633.25bn from the local market during the second quarter (Q2) of fiscal year (FY) 2021/22, up from EGP 587bn in Q1 2021/22.

The Central Bank of Egypt (CBE), which undertakes the task on behalf of the government, will issue EGP 195.25bn worth T-bill and bond offerings in October, EGP 242.75bn worth offerings in November, and EGP 195.25bn offerings in December.

According to the plan, most T-bill offerings will be for a period of 364 days, as the ministry is scheduled to offer more bids worth EGP 192bn, and EGP 185bn worth bids for a period of 273 days. Other offers will include 91-day T-bills with a value of EGP 48.5bn, and 182-day bills worth EGP 42bn.