Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 9 billion on Monday on behalf of the Ministry of Finance.
The first tranche of the T-bonds is valued at EGP 1 billion and will be offered through two-year notes, while the second tranche is worth EGP 4.5 billion and will be offered through three-year notes, the CBE said on its official website.
The value of the third tranche amounts to EGP 3.5 billion and will be offered through seven-year notes.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.
It is worth mentioning that Egypt secured a $2.7 billion loan from the International Monetary Fund (IMF) under the rapid financing instrument (RFI).
