Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance.

The first tranche of the T-bills will be offered through 182-day notes valued at EGP 10 billion, while the second tranche amounts to EGP 10.5 billion and will be offered through 364-day notes, the CBE said on 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 debt instruments.

The finance ministry previously revealed plans to diversify debt instruments and expand into long-term financial instruments instead of short-term borrowing.