WAEMU Securities: Togo nears CFA200 billion raised so far this year

Public finance
Tuesday, 19 March 2024 04:29
WAEMU Securities: Togo nears CFA200 billion raised so far this year

(Togo First) - Togo raised CFA34 billion on the WAEMU market last Friday. The country’s treasury obtained the funds through a simultaneous issue of fungible treasury bonds and bills (OATs and BATs in French).

Overall, 16 investors subscribed to the operation, raising CFA35 billion, out of which the Togolese treasury retained CFA34 billion. 

According to the operation’s report, the treasury secured CFA28 billion through the BATs and CFA6 billion through the OATs. The former mature over 364 days and have multiple interest rates while the latter mature over 3 and 5 years at respective annual rates of 6.15% and 6.40%. 

Including this recent issue, Togo has secured CFA194 billion on the regional money market so far this year. This is around 32% of its annual target which is CFA607 billion. The funds will finance the national budget which stands at CFA2,179 billion, expenses and revenues. 

 Esaïe Edoh

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