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Ethiopia: NBE Sold 225.3 Billion Birr Treasury Bills

nbeNational Bank of Ethiopia (NBE) disclosed it has sold 225.3 billion Birr worth treasury bills during the last fiscal year.

According to Vice Governor of the Bank and Chief Economist, Yohannes Ayalew (Dr.), the bills were sold on auction and they were aimed at meeting financial requirements of projects the federal government is undertaking.

The treasury bills sold were 28-day, 90-day and 180-day treasury bills, Yohannes explained. These bills were sold for institutions that collect pension fund for private and civil servants as well as for insurances.

The amount of treasury bills sold during the year had increased when compared to the performance 10 years ago, 65.3 billion Birr, the Vice Governor said.

Treasury bills are sold so that the government can meet short term mismatches in receipts and expenditure.

Source: Fana Broadcasting Corporation

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