Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds at a combined value of EGP 24 billion on Sunday on behalf of the Ministry of Finance.

The first tranche of the T-bills is valued at EGP 9.5 billion and will be offered through 182-day notes, while the second tranche is worth EGP 11 billion and will be offered through 357-day notes, the CBE said on its official website.

In addition, the CBE will also offer 10-year T-bonds worth EGP 3.5 billion.

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 received a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).