Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) valued at EGP 7 billion on Monday on behalf of the Ministry of Finance.

The first tranche of the T-bonds stands at EGP 3.75 billion and will be offered through five-year notes, while the second tranche will be offered through 10-year notes worth EGP 3.25 billion, according to data published on the CBE’s official website.

The issuance will be used to finance the country’s budget deficit. State-run banks are the top holders of the government debt instruments.

It is noteworthy that on 20 February, the CBE’s Monetary Policy Committee (MPC) decided to leave the current interest rates unchanged.

The overnight deposit rate and the overnight lending rate were maintained at 12.25% and 13.25%, respectively, while the rate of the main operation was kept at 12.75%.

The discount rate was also kept at 12.75%, according to a report released by the CBE.