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CBE to issue EGP 18bn T-bills on Sunday

CBE to issue EGP 18bn T-bills on Sunday
The first tranche of T-bills will be offered through 91-day notes

Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18 billion, in coordination with the Ministry of Finance (MOF) to fund the budget deficit.

The first tranche of T-bills will be offered through 91-day notes at EGP 8 billion, while the second offering will be through 273-day notes at EGP 10 billion, according to the CBE’s official website.

 Government banks are the largest buyers of the government T-bills and bonds of different tenors.

 Noteworthy to mention, the Ministry of Finance (MOF) announced that it would decrease the accepted amounts of T-bills and bonds bids issued in local currency until the end of the current fiscal year.