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CBE offers EGP 24bn T-bills, bonds on Monday

CBE offers EGP 24bn T-bills, bonds on Monday
State-run banks are the top purchasers of the government debt instruments

Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds at a total value of EGP 24 billion on Monday 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 worth EGP 10.5 billion and will be offered through 266-day notes, the CBE said on its official website.

In addition, the CBE will also offer five-year T-bonds worth EGP 4 billion and 15-year T-bonds valued at EGP 1 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).