Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-Bills) worth EGP 13.25 billion on Sunday in coordination with the Ministry of Finance (MoF) to finance the budget deficit.
The first tranche of T-bills will be offered through 91-day notes at EGP 6.5 billion, while the second offering will be through 266-year notes at EGP 6.75 billion, according to the CBE’s official website.
The MoF is determined to offer treasury bills and bonds worth EGP 110.75 billion in July 2017, compared to EGP 88.6 billion in July 2016.
Egyptian debt instruments are attracting a large number of foreign investors, especially treasury bills, as the return on bonds exceeded.
Cost of debt surged 30% to about EGP 316.6 billion in the fiscal year ended June 2017, compared to EGP 243.6 billion in the prior fiscal year.
