The Central Bank of Egypt (CBE) announced on Sunday that it will be issuing €600 million in euro-denominated treasury bills as part of its efforts to diversify government debt instruments and attract foreign investment in various currencies.
The CBE said on its official website that the new treasury bills will have a maturity of 364 days, with a due date of November 3, 2026.
The proceeds from this issuance will be used to repay a previously maturing €642.8 million in euro-denominated treasury bills, due on Tuesday, in a move aimed at managing short-term external debt flexibly
The CBE is also preparing to issue its first sovereign bond in Egyptian pounds on Monday, valued at three billion LE, with a three-year maturity.
This comes as part of the state’s plan to diversify Islamic financing instruments and offer new financial products that meet the needs of local and international investors.
Banking expert Tarek Metwally stated that the CBE’s continued issuance of treasury bills in euros, alongside the launch of the first sovereign bond in Egyptian pounds, reflects the flexibility of the monetary and fiscal policies adopted by the state in managing its financing needs.
These steps confirm the confidence of international institutions and investors in the Egyptian economy and in the government’s ability to meet its short- and medium-term obligations, he noted.
Edited translation from Al-Masry Al-Youm
