Egypt’s weekly economic indicators
The Ministry of Finance announced a 91-day T-bill auction with a total face value of LE500 million.
The issue date was May 3 and the maturity date is August 2. The final date for bids was May 2.
The Central Bank of Egypt announced the acceptable bids for its 91-day T-Bill auction, from which
65 out of 77 bids were accepted with a total face value of LE551.2 million. The annual interest rate ranged between 9.002 percent and 9.165 percent with an aver-age of 9.104 percent.
The Ministry of Finance announced a 182-day T-bill auction with a total face value of LE500 million.
The issue date is May 8 and the maturity date is November 6.The final date for bids is May 7.
General Authority for Investment &Free Zones Chairman Mohamed El-Ghamrawi met
a delegation of Turkish businessmen to discuss means of boosting bilateral trade and investment, particularly in the industrial sector. Joint investment projects between Egypt and Turkey under the new investment amount to only LE83 million. Ghamrawi said that Turkish businessmen have contributed over LE25 million to these projects. Meanwhile, Egyptian Ambassador to Turkey Fathi El-Shazli announced that Ehypt and Turkey would soon conclude negotiations for a joint free trade zone.
The Islamic Development Bank (IDB) announced that it had earmarked US$41 million for Egypt as part of its financing to member countries. IDB will offer US$151 million in financing to four member countries, including Egypt, Syria, Pakistan and Algeria. The money will be used to fund power projects.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)