Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 1.5 billion on Monday in coordination with the Ministry of Finance (MoF) to finance the budget deficit.
The first tranche of T-bills will be offered through five-year notes at EGP 750 million, while the second tranche will be through ten-year notes at EGP 750 million, the CBE added on its official website.
The ministry will issue treasury bills and bonds worth EGP 371 billion in the first quarter of fiscal year 2017/2018, which is the highest value since the beginning of the government borrowing mechanisms in 2005.
Egyptian debt instruments are attracting a large number of foreign investors, especially T-bills, as the yield on bonds exceeded 20%.
