Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance.
The first tranche of the T-bills amounts to EGP 9.5 billion and will be offered through 182-day notes, while the second tranche is valued at EGP 11 billion and will be offered through 357-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).