CBE To Offer EGP 4 Bln T-Bills Sunday

Central Bank of Egypt (CBE) will offer tomorrow (Sunday) EGP 4 billion of 91- and 273-day treasury bills. CBE will seek bids for 1 billion in the 91-day bills and 3 billion in the 273-day bills, according to the CBE’s website.

This came as part of Egypt’s efforts to finance budget deficit through government debt instruments.

It is worth mentioning that Egypt is still in negotiations with International Monetary Fund over US$ 3.2 billion loan, for which central bank of Egypt’s governor Farouk El-Okdah went USA to meet officials of financial institutions.