CBE to issue treasury bills worth 11bn Egyptian pounds today

Egypt’s central bank is issuing Thursday, on behalf of Ministry of Finance, treasury bills totalling 11 billion Egyptian pounds ($587.4 million) to fill the country’s budget deficit.

The Central Bank of Egypt (CBE) said in a statement on Wednesday that it would raise two treasury bonds; the first would be at value of 5.75 billion pounds, to mature in 182 days. The second will be worth 5.25 billion pounds, to mature in 357 days.

Egyptian Ministry of Finance has estimated the country’s budget deficit for the financial year 2016-2017 at 319.46 billion pounds.

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