UMOA-securities: Togo aborts its next issuance of fungible treasury bonds

Public finance

Thursday, 12 September 2019 17:19

UMOA-securities: Togo aborts its next issuance of fungible treasury bonds

(Togo First) - Togo has cancelled its upcoming issuance of fungible treasury bonds of the UMOA-securities market. This was disclosed by the regional debt planning agency.

Indeed, in a statement released Sept 11, UMOA-securities “informs investors of the Union (WAEMU) that the State of Togo has decided to abort the issuance of fungible treasury bonds, with a maturity period of 364 days for an amount of fifteen (15) billion CFA francs.”

Proceeds of the operation which was to occur on September 20, 2019, were to be used by the Togolese public treasury to finance part of the country’s budget for this year.

Let’s recall that Togo’s debt presently stands at 70% of its GDP, according to official data. The figure is forecast at 73% by end-2019.

Séna Akoda

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