Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue EGP 20.5 billion worth of treasury bills (T-bills) on Thursday, in coordination with the Ministry of Finance (MOF) to finance the budget deficit.

The first tranche of the bills will be offered through 182-day notes at EGP 10 billion, while the second offering will be through 364-day notes at EGP 10.5 billion, according to the CBE’s official website. 

State-run banks are the largest holders of the government’s local debt instruments, which are offered through treasury bills and bonds in different notes.

By the end of June 2019, Egypt lowered its public debt-to-GDP ratio to 90.5%, compared to 98% in the same period of 2018.