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

The first tranche of the T-bills amounts to EGP 8.5 billion and will be offered through 91-day notes, while the second tranche is valued at 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.

It is worth mentioning that Egypt secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).