Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday EGP 9.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit.

With a two-year maturity period, the first tranche will be offered at a total value of EGP 8 billion, the CBE announced on its official website.

Meanwhile, the second tranche of five-year notes stands at EGP 1 billion, while the third tranche valued at EGP 500 million will be issued through 10-year notes.

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.