CBE Auctions T-bills worth EGP5bn Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 91- and 273-day treasury bills worth EGP 5 billion.

Throughout its official website, the CBE stated that the first offering; 91-day t-bills is at value of EGP 2 billion, whereas the second offering; the 273-day t-bills amounts to EGP 3 billion.

It is worth to note that the Egyptian government is raising periodic auctions of treasury bills and treasury bonds to fill the state budget deficit which amounted to around EGP 65 billion during the period from July to November 2013.