Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 18 billion on Thursday, in coordination with the Ministry of Finance, to finance the budget deficit.
The first tranche of the T-bills will be offered through 182-day notes valued at EGP 3.5 billion, while the second tranche worth EGP 14.5 billion will be issued through 364-day notes, the CBE said on its official website.
The state-run banks are the top purchasers of government debt instruments.
It is noteworthy to mention that 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.
