Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday treasury bills (T-bills) worth EGP 18.5 billion, in coordination with the Ministry of Finance (MoF), to finance the budget deficit.
The first tranche of the T-bills will be offered through 91-day notes at a total value of EGP 10.5 billion, while the second tranche, worth EGP 8 billion, will be issued through 266-day notes, the CBE announced on its official website.
The state-run banks are the top purchasers of the government debt instruments with different tenors.
In June 2020, the Minister of Finance, Mohamed Maait, issued a decision to establish a unit at the Egyptian Tax Authority to follow up on the collection and supply of taxes on returns of T-bills and bonds.
It is noteworthy to mention that Egypt has secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
