The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 2.5 billion on Monday on behalf of the Ministry of Finance (MOF).
The first tranche of T-bills will be offered through three-year notes at EGP 1.5 billion, while the second offering will be through seven-year notes at EGP 1 billion, according to the CBE’s 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-run banks are the largest holders 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.