Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday treasury bills (T-bills) worth EGP 19 billion, in coordination with the Ministry of Finance, to fund the budget deficit.
The first tranche of T-bills will be offered through 182-day notes at EGP 7.5 billion, while the second offering will be through 357-day notes at EGP 11.5 billion, according to the CBE’s official website.
Government banks are the top purchasers of the government T-bills and bonds of different tenors.
Previously, the Ministry of Finance announced that it would decrease the accepted amounts of T-bills and bonds bids issued in local currency until the end of the current fiscal year.
In May, Egypt secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
