Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.75 billion on Thursday on behalf of the Ministry of Finance (MoF).

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

The issuance will be used to finance the country’s budget deficit.

It is noteworthy that the yield on the 91-day T-bills offered on Sunday, 29 September, registered 14.594%, following the CBE’s decision to slash key interest rates by 100 basis points (bps).