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, to finance the budget deficit.
The first tranche valued at EGP 4 billion will be offered through 91-day notes, while the second tranche, holding a maturity period of 273 days, will be issued at a total value of EGP 14.5 billion, according to the CBE's 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.
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.
