Egypt Raises Treasury Bills Sales 82% as Yields Rise
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Egypt, rocked by the worst political turmoil in 30 years, increased the size of Treasury bills at auctions today and Feb. 13 by 82 percent as it struggles to fund a deficit and rebuild an economy hurt by two weeks of protests.
The finance ministry plans to sell a combined 10 billion pounds ($1.7 billion) of 91-day, 182-day and 266-day bills compared with a previous 5.5 billion pounds, according to central bank data on Bloomberg. It will auction 3.5 billion pounds of the six-month notes today.