Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7 billion on Monday on behalf of the Ministry of Finance.
The first tranche of the T-bonds will be offered through three-year notes valued at EGP 3.75 billion, while the second tranche reaches EGP 3.25 billion and will be offered through seven-year notes, the CBE said on its official website.
The issuance will be used to finance the country’s budget deficit. State-run banks are the top purchasers of the government debt instruments.
Previously, the finance ministry revealed plans to diversify its financing sources and expand into long-term financial instruments instead of short-term borrowing.