Cairo - Mubasher: The Central Bank of Egypt (CBE) offers on Monday EGP 11.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit.

The first tranche will be issued through three-year notes valued at EGP 10 billion, while the second tranche amounting to EGP 1 billion will be offered through seven-year notes, the CBE said via its official website.

Meanwhile, the third tranche will be offered through 15-year notes worth EGP 500 million.

State-run banks are the top purchasers of government debt instruments.

It is noteworthy to mention that in November 2020, the CBE’s Monetary Policy Committee (MPC) cut the overnight deposit rate, the overnight lending rate, and the main operation rate by 0.5% to 8.25%, 9.25%, and 8.75%, respectively.