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CBE issues EGP 2.25bn T-bills Monday

CBE issues EGP 2.25bn T-bills Monday
CBE issues EGP 2.25bn T-bills Monday

Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 2.25 billion on Monday on behalf of 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 10-year notes at EGP 1 billion, the CBE added on its official website.

State-owned banks are the largest buyers of government's debt instruments.

The MOF posted a 51% year-on-year surge in T-bills and T-bonds issues for the second quarter of fiscal year 2017/2018.