Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 14 billion on Sunday on behalf of 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-day notes at EGP 7.5 billion, the CBE added on its official website.
Egyptian debt instruments, especially T-bills, lure a large number of foreign investors owing to their high yield.
State-owned banks are the largest buyers of government's debt instruments.
The MOF posted a 51% year-on-year surge in T-bill issues for the second quarter of fiscal year 2017/2018.
