International Courant
The Central Financial institution of Egypt (CBE) on Thursday supplied LE60 billion in authorities bonds by way of two tenders.
In line with the CBE web site, the primary tender is for LE30 billion with a time period of 182 days, and the second tender is for LE30 billion with a time period of 364 days.
The Ministry of Finance authorizes the CBE to handle its personal provide of treasury payments and bonds in Egyptian kilos all through the monetary 12 months.
The federal government borrows cash by issuing authorities bonds and bonds with totally different maturities.
Authorities banks are the biggest consumers of those securities.
At its final assembly, the Financial Coverage Committee determined to extend rates of interest on deposits and loans, in addition to the rate of interest on the central financial institution’s principal operations, by 200 foundation factors.
This brings the charges to 21.25 p.c, 22.25 p.c and 21.75 p.c respectively.
The credit score and low cost fee was additionally elevated by 200 foundation factors to 21.75 p.c.
Edited translation of Al-Masry Al-Youm
The Central Financial institution of Egypt is providing LE60 billion in authorities bonds
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