Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 2.5 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 three-year notes at EGP 1.5 billion, while the second offering will be through seven-year notes at EGP 1 billion, according to the CBE’s official website.
Hinging on the debt instruments has aggravated the cost of debt on the general budget to reach EGP 410 billion in the current fiscal year, compared to estimations of EGP 316.6 billion in over past fiscal year.
