CBE Egypt issues 13.5 bln pounds treasury bills Thursday

Central Bank of Egypt (CBE) issued Thursday treasury bills worth 13.5 billion Egyptian pounds ($755.8 million), in coordination with the country’s Ministry of Finance (MoF), to fund the state budget deficit.

The first tranche of treasury bills was offered through 182-day notes of 6.5 billion pounds, while the second offering will be through 357-day notes of seven billion.

The MoF is determined to offer treasury bills and bonds estimated at 110.75 billion  pounds within July 2017, compared with  88.6 billion pounds during the same month in 2016.