Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bonds (T-bonds) worth EGP 4 billion on Monday on behalf of the Ministry of Finance (MoF).

The first tranche of the T-bonds will be offered through three-year notes valued at EGP 2.25 billion, while the second tranche amounts to EGP 1.75 billion and will be offered through seven-year notes, the CBE said via its official website.

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

It is noteworthy that on 26 September, the CBE decided to lower key interest rates by 100 basis points (bps) and is expected to deliver another cut of 50-100 bps in its next meeting on 14 November.