Arab Today, arab today egypt plans fourth debt sale
Last Updated : GMT 03:55:15
Arab Today, arab today
Arab Today, arab today

Egypt plans fourth debt sale

Arab Today, arab today

Arab Today, arab today Egypt plans fourth debt sale

Cairo - Arabstoday

Egypt will offer dollar-denominated treasury bills this month for the fourth time as it awaits an agreement on a loan from the International Monetary Fund to meet financing needs. It will offer one-year tax-free securities valued at $500 million (Dh1,836 million) tomorrow, the central bank said in an e-mailed statement yesterday. It raised $3.5 billion at auctions of similar-maturity bills starting in November at an average yield of about 3.9 per cent. Egypt will sign an agreement with the IMF for a $3.2 billion loan in March, state-owned Al Ahram reported yesterday, citing Finance Minister Momtaz Al Saeed. Egypt needs to secure money from the fund as part of its drive to meet financing needs of about $11 billion by June 2013, he said February 10. The government is seeking parliament\'s approval of the loan before signing the agreement. \"These dollar T-bill sales are attracting local banks for the most part because foreign investors want higher yields,\" Mustafa Assal, head of fixed income at Cairo-based Beltone Financial Holding, said by telephone. \"They are a short-term alternative to financing their needs but the locals will start demanding higher yields soon, so Egypt is running out of time.\" Egypt\'s 5.75 per cent dollar bonds due in 2020 were little changed, yielding 7.33 per cent on February 17, according to prices compiled by Bloomberg. The pound weakened less than 0.1 per cent to 6.0412 per dollar, the lowest level since January 18. The central bank sold 3.5 billion pounds (Dh2.1 billion) in nine-month pound-denominated T-bills yesterday at an average yield of 15.906 per cent, two basis points lower than that paid at a similar sale a week ago. Rates on local-currency securities are still near the highest level since Bloomberg started tracking the data in 2006 because of growing pressure on bank funds and persistent political unrest since President Hosni Mubarak was forced out.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt plans fourth debt sale Arab Today, arab today egypt plans fourth debt sale

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday