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

The first tranche of the T-bills will be offered through 91-day notes valued at EGP 8.5 billion, while the second tranche amounts to EGP 10.5 billion and will be offered through 266-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 top purchasers of the government debt instruments.

The finance ministry revealed a possibility of accepting less bids for treasury bills and bonds denominated in the Egyptian pound until the end of fiscal year 2019/2020 after securing a $2.7 billion loan from the International Monetary Fund (IMF).