Cairo - Mubasher: The Central Bank of Egypt (CBE) will offer on Monday treasury bonds (T-bonds) worth EGP 10 billion, in coordination with the Ministry of Finance, to finance the budget deficit.
The first tranche of the T-bonds will be issued through two-year notes valued at EGP 8 billion, while the second tranche worth EGP 1.25 billion will be offered through five-year notes, the CBE said on its official website.
The central bank will also offer 10-year notes worth EGP 750 million.
In November 2020, the CBE’s Monetary Policy Committee (MPC) cut the overnight deposit rate, the overnight lending rate, and the main operation rate by 0.5% to 8.25%, 9.25%, and 8.75%, respectively.
