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CBE offers EGP 19.5bn T-bills on Thursday

CBE offers EGP 19.5bn T-bills on Thursday
The issuance will be used to finance the country’s budget deficit

Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19.5 billion on Thursday on behalf of the Ministry of Finance.

The first tranche of the T-bills amounts to EGP 9 billion and will be offered through 182-day notes, while the second tranche is valued at 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 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).