Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday treasury bills (T-bills) worth EGP 20.5 billion, in coordination with the Egyptian Ministry of Finance (MoF), to finance the budget deficit.

The first tranche of T-bills will be offered through 182-day notes at EGP 9.5 billion, while the second offering will be through 357-day notes at EGP 11 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.