Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18 billion on Sunday on behalf of the Ministry of Finance (MoF).
The first tranche of the T-bills will be offered through 91-day notes at EGP 9.5 billion, while the second tranche amounts to EGP 8.5 billioin and will be through 266-day notes, the CBE said via its official website.
The issuance will be used to finance the budget deficit, the CBE added.
Egypt’s debt instruments, especially T-bills, are seen as attractive to foreign investors owing to their high yield. State-run banks are the largest holders of the government’s debt instruments.
Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.