Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) valued at EGP 3.75 billion on Monday on behalf of the Ministry of Finance (MoF).

The first tranche of the T-bonds will be offered through five-year notes worth EGP 2 billion, while the second tranche stands at EGP 1.75 billion and will be offered through ten-year notes, the CBE said via its official website.

The issuance will be used to finance the country’s budget deficit.

It is worth mentioning that during September, the CBE decided to reduce key interest rates by 100 basis points (bps).