CBE to Auction T-bills worth EGP6.5 bln Today

On behalf of the Egyptian Finance Ministry, the Central Bank of Egypt will be offering today 182- and 357-day treasury bills worth EGP 6.5 billion.

Throughout its official website, the CBE stated that the first offering; 182-day t-bills is at value of EGP 2.5 billion, whereas the second offering; the 357-day t-bills amounts to EGP 4 billion.

This comes in accordance with the Egyptian government’s plan to offer debt instruments to fill the country’s growing budget deficit which hit EGP 74.5 billion during the first 4 months of the current fiscal year.