| Kippreport.com

Egypt To Offer $500 Mln In 1-Year Usd T-Bills

February 19, 2012 4:39 by Reuters

Egypt’s central bank said on Sunday it would offer $500 million in dollar-denominated 1-year treasury bills at an auction on Tuesday, its fifth dollar offering since Nov. 29, as the government struggles to finance its budget deficit.
The deficit burgeoned after last year’s popular uprising, and the finance minister said in October liquidity at domestic banks had almost been exhausted. The new dollar T-bills will be issued on Feb. 22 and will mature on Feb. 19, 2013, the bank said. (Reporting by Mohamed Samir)