Togo to issue more Covid-19 bonds, seeks FCFA70 billion

Public finance

Tuesday, 28 July 2020 13:04

Togo to issue more Covid-19 bonds, seeks FCFA70 billion

(Togo First) - For the second time, Togo will try to raise FCFA70 billion by issuing covid-19 bonds on the regional financial market. This is after garnering FCFA108 billion by recently issuing the same bonds.

The proceeds of the new issuance will fill the gap in public treasury caused by the fight against the coronavirus pandemic. The issuance of the bonds -fungible treasury bonds- which have a nominal value of FCFA1 million should close on August 13, 2020.

Just like for the first operation, the securities will mature over three months. They will thus start gaining value on August 14, 2020, and reach maturity on November 12.

Repayment will begin on the first workday after the maturity date. Meanwhile, due interests will be discounted on the face value of the bonds.

Across the WAEMU, the bond issuance is set to begin on July 28, 2020, with an expected XOF721 billion to be raised.

Séna Akoda

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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