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Egypt plans to raise 5.5 billion pounds ($936 million) in treasury bills today to finance a budget deficit that the government said may widen after the toppling of President Hosni Mubarak.
You can’t do this without a central government and central bank in control.
4 comments
At almost 11% there will be no shortage of takers.
I do wonder how long they can keep that up, though.
re: #1 researchok
What do you think that the US buys most of it by a wide margin? That would create the US Party in Egypt.
re: #2 Bob Levin
What do you think that the US buys most of it by a wide margin? That would create the US Party in Egypt.
As long as the banks are flush, it’s a good investment. I wouldn’t be surprised if Israeli banks got in on that action.
For the short term, anyway.
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