Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 14.5 billion on Sunday on behalf of the Ministry of Finance.
The first tranche of the T-bills will be offered through 91-day notes valued at EGP 4 billion, while the second tranche stands at EGP 10.5 billion and will be offered through 273-day notes, according to data published on the CBE’s official website.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top holders of the government debt instruments.
At the end of June 2019, Egypt managed to cut public debt to gross domestic product (GDP) ratio to 90.5% from 98% a year earlier.
