The Central Bank of Egypt is offering one billion dollars in treasury bills, and the deal will be tomorrow

The Central Bank of Egypt said today in a statement on Monday that he had sold denominated one-year treasury bills in dollars worth one billion dollars with an average return of 2,995%.

The bank added that The liquidation of the offer will take place tomorrow, Tuesday.

The Egyptian government had obtained approval to join the “JPMorgan” index of emerging market government bonds as of January 31st.

Egypt will have an estimated weight in the index at 1.85%. About 14 categories of government bonds denominated in Egyptian pounds, with a total value of $ 26 billion, qualify for the benchmark index. The average yield on these bonds is 14.9% with a duration of 2.9 years.

It is expected that it will enter in Egypt with 14 issues, for a total value of around 24 billion dollars.

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