Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 4 billion on Monday, in coordination with the Ministry of Finance (MOF), to finance the country’s budget deficit.

The first tranche of the T-bills is offered through three-year notes valued at EGP 2 billion, while the second tranche stands at EGP 2 billion offered through seven-year notes, the CBE announced via its official website. Government banks are the largest buyers of the government T-bills and bonds of different tenors.

It is noteworthy to mention that by the end of June, Egypt succeeded to decrease the government debt-to-GDP ratio to 90.5%, compared to 98% in the same period in 2018