Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 24 billion on Sunday on behalf of the Ministry of Finance.
The first tranche of the T-bills amounts to EGP 9.5 billion and will be offered through 182-day notes, while the second tranche is worth EGP 11 billion and will be offered through 357-day notes, the CBE said on its official website.
In addition, EGP 3.5 billion worth of T-bonds will be offered through 10-year notes.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.
Banks were closed on Thursday, 20 August, on the occasion of the new Hijri year 1442.
In May, Egypt obtained a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
In June, the finance minister Mohamed Maait issued a decision to establish a unit at the Egyptian Tax Authority to follow up on the collection and supply of taxes on returns of T-bills and bonds.
