The Central Bank of Egypt on behalf of the Ministry of Finance just auctioned off $856.36 million in treasury bills .The Treasury bills were scheduled to be offered in two installments.

“The first is valued at 2.5 billion EGP with a 3-month term while the second worth 4 billion EGP with a 266-day term,” reports Star Africa.

The government plans on borrowing 455 billion EGP during the current fiscal year, the bank said.