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CBE issues EGP 19bn T-bills on Sunday

CBE issues EGP 19bn T-bills on Sunday
The issuance will be used to finance the country’s budget deficit

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

The first tranche of the T-bills will be offered through 91-day notes valued EGP 9.25 billion, while the second tranche stands at EGP 9.75 billion and will be offered through 266-day notes, the CBE said via its official website.

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

Previously, the Ministry of Finance revealed that it aims to diversify its financing sources and expand into local long-term financial instruments with the decrease in local interest rates.