VOL. XLII

No. 09

1-March-1999

EGYPT

Demand For Egypt痴 10-Year T-bonds Limited To Domestic Banks

Demand for Egypt痴 offering of E2bn ($588mn) treasury bondslast month at a 9.5% yield came mainly from local banks and financialinstitutions and not from individuals and funds, as was originally anticipated(MEES, 8 February). The bonds, which were expected to yield at least10%, were offered with the lower yield between 19-28 February, indicating thegovernment痴 intention to push down interest rates and...