Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 18.5 billion on Monday on behalf of the Ministry of Finance.

The CBE will offer three-year T-bonds valued at EGP 4 billion as well as 91- and 273-day T-bills worth EGP 4 billion and EGP 10.4 billion, respectively, according to the CBE’s official website.

The issuance of T-bills was delayed from Thursday, 12 March, after banks closed due to bad weather conditions in the country.

The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.

Previously, the finance ministry revealed plans to diversify its financing sources and expand into long-term debt instruments instead of short-term borrowing.