Federal Government Nearly Doubles Treasury Bill Offering

The federal government has significantly increased its Treasury bill offering in the latest tender. In the auction held on October 14, the offering was raised to 23.39 billion Birr, nearly doubling from the 11.94 billion Birr offered just two weeks prior. Dr. Eyob Tekalegn, governor of the National Bank of Ethiopia (NBE), announced that a new framework for 10- and 15-year government bonds and over-the-counter (OTC) trading is now ready. The framework has successfully passed through management review, and a fiscal agency agreement has been secured to facilitate these new financial instruments.