Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 2.25 billion on Monday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.

The first tranche of T-bills will be offered through five-year notes at EGP 1.25 billion, while the second offering will be through ten-year notes at EGP 1 billion, the CBE added on its official website.

Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills, as the return on bonds exceeded/

Cost of debt surged 30% to about EGP 316.6 billion in fiscal year 2016/2017, compared to EGP 243.6 billion in the prior fiscal year.