Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury notes (T-notes) worth EGP 2.25 billion on Monday in coordination with the Ministry of Finance (MOF) to finance the budget deficit.
The first tranche of T-bills will be offered through five-year notes at EGP 1.25 billion, while the second offering will be through 10-year notes at EGP 1 billion, according to the CBE’s official website.
Hinging on the debt instruments has aggravated the cost of debt on the general budget to reach EGP 380 billion over the current fiscal year, compared to estimations of EGP 311 billion in the prior fiscal year.
