All eight members of the West African Economic and Monetary Union (WAEMU) will issue 3,409 billion FCFA ($5.8 billion) of debts in 2016 against 3,304.3 billion FCFA in 2015, regional agency for debt planning UMOA-Titres announced on February 9.

From this amount, FCFA920 billion will be raised during the first quarter, the same source added.

Cote d’Ivoire, WAEMU’s economic powerhouse plans to issue FCFA1192 billion. Then come Senegal, Burkina Faso, Mali, Benin, Togo, Niger and Guinea Bissau with 690 billion FCFA, 420 billion CFA, 336 billion CFA, 300 billion CFA, 250 billion CFA, 180 billion CFA and 11 billion CFA respectively.

Issuances, at the regional level, for 2016 include a FCFA150 billion sukuk, UMOA-Titres indicated without revealing the issuing country.

Established in March 2013 by the Central Bank of West African States, the UMOA-Titres agency has for role to assist issuing countries regarding interrogations on financial markets and organizing dialogue between investors and them.