The new offering comes in coordination with the Egyptian Ministry of Finance to finance the budget deficit.
Today, Thursday, the Central Bank of Egypt announced the issuance of treasury bills worth 39.5 billion Egyptian pounds (about $1 billion).
The new offering comes in coordination with the Egyptian Ministry of Finance to finance the budget deficit.
The bank said in a statement on its official website that the bills will be in two offerings, the first with a value of 16 billion pounds for a period of 182 days.
The second offering will be at a value of 23.5 billion pounds for a period of 364 days.
The Egyptian government usually borrows from individuals and government and private banks through these bills and bonds to bridge the budget deficit.
The Egyptian Ministry of Finance authorizes the Central Bank to manage the bills and bonds it issues throughout the fiscal year.
