Egypt: CBE auctions $2bln T-bills on Thursday

Arab Finance: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) with a combined value of EGP 95 billion on Thursday, January 22^nd, in coordination with the Ministry of Finance.

The issuance comes as part of the ministry’s efforts to finance the state's budget deficit.

With a 182-day term, the first offering is valued at EGP 40 billion.

Meanwhile, the second auction stood at EGP 55 billion, holding a 364-day tenor.

The government utilizes borrowing through T-bills and bonds with varying maturities to cover its financing needs.