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CBE to issue EGP 19bn T-bills today
05 - Sun - Jan - 2020
CBE to issue EGP 19bn T-bills today

 The Central Bank of Egypt (CBE) is issuing EGP 14.5 billion worth of treasury bills (T-bills) on Sunday in coordination with the Ministry of Finance.

The issuance will be offered through two tranches, 91-day bills worth EGP 4 billion and 273-day notes at EGP 10.5 billion, according to the CBE’s website.

Debt instruments are used to bridge the budget deficit and Egyptian state-run banks remain the largest holder.

Egypt successfully reduced the debt-to-GDP ratio to 90.5% by the end of last June, compared with 98% for the same period in 2018.

The Ministry of Finance has vowed to diversify local and international debt instruments, with lower interest rates easing the issuance of long-term instruments.

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