Cairo – Mubasher: The Central Bank of Egypt (CBE) is set to issue EGP 17.25 billion in treasury bills (T-bills) on Thursday on behalf of the Ministry of Finance (MOF).
The first tranche worth EGP 8.5 billion will be offered through 182-day notes, while the second offering will be through 364-day notes at EGP 8.75 billion, the CBE said.
The issuance will be used to finance the budget deficit.
Egypt’s debt instruments, especially T-bills, are attractive to foreign investors owing to their high yield. State-run banks make up the largest portion of holders of the government’s debt instruments.
Egypt aims to issue EGP 409.6 billion T-bills and EGP 101.6 billion bonds in fiscal year 2018/2019.
The CBE previously said that the country's total foreign debt rose 2.3% quarter-on-quarter, or $1.8 billion, to $80.8 billion in the first quarter of FY17/18.
