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CBE issues EGP 19bn T-bills on Thursday

CBE issues EGP 19bn T-bills on Thursday
State-run banks are the largest holders of the government’s debt instruments

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 amounts to EGP 9.25 billion and will be offered through 182-day notes, while the second tranche will be offered through 364-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.

State-run banks are the largest holders of the government’s debt instruments.

It is noteworthy that the during September, the CBE decided to slash key interest rates by 100 basis points (bps).