Palestinian-Israeli economic war    EFA official confirms Ahly-Zamalek league derby to go ahead as scheduled    Mori, The Artist's Habitat    The winds of change    Coronavirus death toll reaches 1,876, confirmed cases rise to 73,332    CBE doubles mortgage finance share to 10% total loan portfolio at banks    Don't miss the concerts of The Royal National Ballet of Georgia at the Cairo Opera House    Neanderthals used flowers in their mortuary practices: study    Pancakes with beef ham and cheese    Towards an African anti-terrorism force    Remembering the Nightingale of the Nile    Last leg in the GERD talks    Google Maps celebrates 15th anniversary with introducing new features    China sees fall in coronavirus deaths but WHO urges caution    Little Women on its way to become a classic    Iran's Khamenei calls for high turnout in parliamentary election    HSBC misses expectations pre-tax profit during 2019    Netherlands to face Greece, Wales in Euro 2020 buildup    Most major Gulf stocks dip; Dubai bears the blow on property    Egypt central bank seen keeping key interest rates steady    Egypt posts trade exchange $5.3B with the world in 11 months    Oil prices fall as market weighs coronavirus demand impact    Manchester United's Maguire should have seen red: Chelsea boss Lampard    Hospital director dies in China's Wuhan, epicenter of coronavirus outbreak    Madbouly follows-up progress on new municipal solid waste system    Immigration Minister defends herself against criticism over carpeted canal bridge photo    Shoukry discusses regional crises, Gulf security in bilateral meetings on Munich Conference sidelines    UEFA Champions League: defending champions Liverpool clash with Atletico Madrid    MTI Group to establish e-payment holding company to parent Bee, Masary    EGX-listed companies shrug impact of Coronavirus on sales    Berlinale Africa Hub to take place 20-27 February    Egypt sentences Boutros Raouf Ghali to 30 years for smuggling artefacts    Naguib Mahfouz's daughter donates some of Nobel laureate's belongings to his museum    House of Representatives wronged, history would do it justice: Deputy Speaker of Soliman Wahdan    Rise in coronavirus infections prompts Japan to limit public crowds    Khamenei loyalists may tighten grip at Iran elections    Sharm El Sheikh receives 2 UK flights in 4 years    Sisi attends funeral of former commander of Egypt's air forces    Rockets hit U.S. coalition base in Baghdad, no casualties    Egypt expects final agreement on GERD to be fair: Shoukry    Zamalek dominate Africa from Doha    Egypt's FM expects final, fair deal on Ethiopian dam to serve Cairo's interests    Chinese Grand Prix likely to be called off amid coronavirus concerns    Zamalek clash with Espérance de Tunis, eyeing first CAF Super Cup in almost 17 years    Egypt's Golden Age actress, Nadia Lutfi, dies at 83    Basketball legend Kobe Bryant, Daughter Gianna die in helicopter crash    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    Egypt's Sami Anan released after near two-year detention    







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EGP 1.852tn balance of local T-Bills, T-Bonds by end-March
EGP 1.158tn balance of T-Bills, EGP 694.4166bn T-Bonds, international bonds by $23.21bn and $4bn: Finance Ministry
Hossam Mounir Published in Daily News Egypt on 25 - 04 - 2019

Outstanding balances of treasury bills (T-Bills) and treasury bonds (T-Bonds) in the local currency owed by the government till the end of March 2019 amounted to EGP 1.852tn, according to the ministry of finance.
Banks working in the Egyptian market are the largest investing sectors in the T-Bills and T-Bonds regularly offered by the government in order to cover the state's budget deficit.
These bonds and bills are launched through 15 banks taking part in the primary dealers system in the primary market. These banks resell part of them in the secondary market to individual and institutional local and foreign investors.
In a recent report, the ministry of finance explained that the total outstanding balances by the end of March 2019 reached EGP 1.158tn, including EGP 87.07bn for 910-day T-Bills, EGP 218.48bn for 182-day T-Bills, EGP 314.244bn for 273-day T-Bills, and EGP 538.255bn for 364-day T-Bills.
According to the ministry, these T-Bills and T-Bonds are due from the period of 2 April 2019 to 24 March 2020.
Regarding the local T-Bonds, the ministry explained that they amounted to EGP 694.4416bn by the end of March 2019, and were repaid during the period from 3 April 2019 to 6 November 2028.
There are also other bonds offered in global markets, worth $23.21bn.
According to the ministry, the first issuance of these bonds is in 29 April 2020, until 1 March 2049. The interest rate on them ranges between 5.75% and 8.7002%, with an average of 7.106%.
There are also other bonds worth €2bn, due on 16 April 2026 and 16 April 2030, with a yield ranging from 4.75% to 5.625%.
This April, the ministry added other international bonds worth €2bn, taking the total state's balance of international bonds in the European currency to €4bn.
The new bonds were issued in two segments. The first for six years, worth €650m and 4.750% yield due on 11 April 2025, and the second for 12 years, worth €1.25bn with 6.375%, due on 11 April 2031.
Moreover, the ministry of finance recently signed a memorandum of understanding with Euroclear Bank, whereby Egyptian public debt instruments will be included in the local currency in the bank, to enhance the attractiveness of Egyptian debt instruments.
According to the ministry's statement, this step aims to provide transactions on government debt instruments for a larger segment of foreign investors, especially central banks which have major investments and prefer to deal in long-term government securities.
According to the banking expert Mohamed Abdelaal, Euroclear is one of the largest banks maintaining investments in bonds, noting that offering debt instruments requires a custodian who carries out the offerings process, according to this agreement.
Abdelaal expected the government's agreement with Euroclear to contribute toward increasing the attractiveness of Egyptian debt instruments and their demand on offerings in government debt instruments.

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