Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19 billion on Sunday on behalf of the Ministry of Finance.
The first tranche of the T-bills is offered through 91-day notes worth EGP 8.5 billion, while the second tranche is valued at EGP 10.5 billion and will be offered through 266-day notes, the CBE said on its official website.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.
In May, Egypt obtained a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
In June, the Minister of Finance, 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.
