The Egyptian central bank will offer one billion dollars in treasury bills next week

The Central Bank of Egypt said in a statement today Thursday that it will offer one-year treasury bills worth one billion dollars in an auction on Monday 6th December. The deal will be on December 7th.

The Egyptian government had obtained approval to join the “JP Morgan” 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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