Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.5 billion on Thursday on behalf of the Ministry of Finance (MoF).
The first tranche of the T-bills amounts to EGP 9 billion and will be offered through 91-day notes, while the second tranche will be offered through 273-day notes valued at EGP 9.5 billion, the CBE said via its official website.
The issuance will be used to finance the country’s budget deficit.
On 26 September, the CBE decided to cut key interest rates by 100 basis points (bps).
It is noteworthy that the public debt to the country’s gross domestic product (GDP) ratio fell to 90.5% at the end of June, compared to 98% at the end of the corresponding month a year earlier.
