Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MoF). 

The first tranche of the T-bills will be offered through 182-day notes at EGP 9.25 billion, while the second tranche, valued at EGP 9.75 billion, will be offered through 357-day notes, the CBE said via its official website. 

The issuance will be used to finance Egypt's budget deficit, the CBE added. 

It is noteworthy that net foreign investments in Egypt’s public debt instruments reached $19.2 billion in mid-June, deputy finance minister Ahmed Kouchouk told Reuters.  

The North African nation’s debt instruments are considered attractive to foreign investors due to their high yield. State-owned banks are the largest holders of the government’s debt instruments.