Cairo- Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills worth EGP 18.75 billion on Thursday in collaboration with the Ministry of Finance (MoF), in a way to finance the budget deficit.

The first tranche of the T-bills will be offered through 91-day notes at EGP 9 billion, while the second tranche will be offered through 266-day notes at EGP 9.75 billion, the CBE announced on its official website.

Foreign investments in government debt instruments exceeded $17 billion by the end of May 2019, the CBE’s board member Fakhry Elfiky told Mubasher.

Net foreign investments in government debt instruments amounted to $19.2 billion until mid-June 2019, Egyptian Vice Minister of Finance for Fiscal Policies and Institutional Reforms Ahmed Kouchouk stated.