Egypt’s Ministry of Finance is set to issue 33 treasury bill and bond auctions worth EGP 751bn in December 2024, aiming to settle previous debt obligations and finance the state budget deficit. The plan includes 20 treasury bill auctions valued at EGP 670bn and 13 bond auctions totaling EGP 81bn.
According to the ministry’s website, the Central Bank of Egypt, acting on behalf of the government, will oversee the auctions. Treasury bill offerings will be divided into five auctions for 91-day bills valued at EGP 190bn, five for 182-day bills worth EGP 185bn, five for 273-day bills totaling EGP 135bn, and five for 364-day bills amounting to EGP 160bn.
On the bond side, the ministry plans to issue three 2-year bonds valued at EGP 15bn, two 3-year floating-rate bonds worth EGP 4bn, five 3-year fixed-rate bonds totaling EGP 56bn, and three 5-year floating-rate bonds for EGP 6bn.
Egyptian banks continue to be the primary investors in these government-issued securities, which are regularly offered to address the national budget deficit.
The issuance process involves 15 banks participating in the Primary Dealers system within the primary market. These banks often resell portions of the securities in the secondary market to both local and international individual and institutional investors.
