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Central Bank of Egypt (CBE) has issued Thursday treasury bills worth 15.5 billion Egyptian pounds ($872.3 million), alongside the country’s Ministry of Finance, to finance the budget deficit.
The first tranche of treasury bills were offered through 182-day notes at 7.25 billion pounds, while the second offering was through 364-day notes at 8.25 billion pounds.
Hinging on the debt instruments has aggravated the cost of debt on the general budget to reach 380 billion pounds in 2017, compared with 311 billion pounds in 2016.
Source: Mubasher
