Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth $1.675 billion on Monday on behalf of the Ministry of Finance (MOF).
The T-bills will be offered through one-year notes and is set for settlement on 20 November, according to the CBE’s official website.
The issuance will be used to finance the budget deficit, the CBE said.
Egypt’s debt instruments, especially treasury bills, are attractive to foreign investors owing to their high yield. State-run banks are the largest holders of the government’s debt instruments.
Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.
