Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills worth EGP 14.5 billion on Sunday on behalf of the Ministry of Finance (MOF).
The first 91-day tranche amounts to EGP 6.75 billion, while the second offering will be through 273-day notes worth EGP 7.75 billion, the CBE said via its official website.
The issuance will be used to finance the budget deficit, the CBE said.
Egypt’s debt instruments, especially T-bills, are attractive to foreign investors owing to their high yield.
State-owned banks are the largest buyers of the 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, recent data showed.
