Egypt will issue USD 1 bn in one-year dollar-denominated treasury bills tomorrow, the Central Bank of Egypt has said. The auction will finish on Tuesday when around USD 1.1 bn worth of dollar-denominated bonds will mature. Vice Finance Minister Ahmed Kouchouk said earlier this year that the Finance Ministry is looking to cut the government’s borrowing costs by diversifying its debt issuances and extending the average maturity period. An official told us last month that in the coming fiscal year the ministry plans to issue EGP 7 bn of green bonds, USD 5 bn of eurobonds and EGP 725 bn of local debt — EGP 435 bn will be issued as short-term t-bills.

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