Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MoF).
The first tranche of the T-bills amounts to EGP 9.25 billion and will be offered through 182-day notes, while the second tranche will be offered through 364-day notes valued at EGP 9.75 billion, the CBE said via its official website.
The issuance will be used to finance the country’s budget deficit.
It is noteworthy that during 26 September, the CBE decided to lower key interest rates by 100 basis points (bps), slashing the overnight deposit rate, the overnight lending rate, and the rate of the main operation to 13.25%, 14.25%, and 13.75%, respectively.
