Cairo – Mubasher: The Central Bank of Egypt (CBE) is offering new treasury bills (T-bills) at a total value of EGP 18.5 billion over two tranches on Sunday, according to official figures.

The first issue stands at EGP 10.5 billion in value, holding a 91-day maturity period until 14 September 2021.

The second auction amounts to EGP 8 billion, carrying a 266-day tenor until 8 March 2022.

The CBE’s last T-bill offerings were on 10 June when the bank issued EGP 17.5 billion worth of notes over two issues as well.

Offering T-bills on behalf of the Ministry of Finance aims to finance Egypt’s budget deficit, with state-run banks being the top purchasers of the government debt instruments.