Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue EGP 19 billion treasury bills (T-bills) on Thursday, in coordination with the Ministry of Finance (MoF), to finance the budget deficit.

The first tranche of the T-bills worth EGP 12.5 billion will be offered through 182-day notes, while the second tranche valued at EGP 6.5 billion will be issued through 364-day notes, the CBE announced on its official website.

The state-run banks are the top purchasers of government debt instruments.

In November 2020, the CBE’s Monetary Policy Committee (MPC) cut the overnight deposit rate, the overnight lending rate, and the main operation rate by 0.5% to 8.25%, 9.25%, and 8.75%, respectively.