The Central Bank of Egypt presents today, Thursday, a safe authorization of £85 billion.

On Thursday, the Central Bank of Egypt, in coordination with the Ministry of Finance, provides a safe authorization of £85 billion for 182, 364 days.

This comes through two proposals, the value of the first instalment is £35 billion, for 182 days, while the second is £50 billion, for 364 days.

Treasury bills are defined as a government debt instrument issued for a period of 3 months to a year; they are therefore considered short-term securities.

At its last meeting, the Bank ' s Mercury Monetary Policy Committee, chaired by Governor Hassan Abdullah, decided to maintain the rates of deposit and loan returns for one night and to rate the main operation of the Central Bank at 21.00, 22.00 and 21.5 per cent, respectively, and to maintain the credit and discount rate at 21.5%.

The Ministry of Finance authorizes the Central Bank, throughout the fiscal year, to manage its own treasury bills and bonds in pounds, to finance and spend the proceeds on the items of the state budget for the current fiscal year.

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