(Ecofin Agency) - On February 19, Mali successfully raised CFA33 billion (about $54.3 million) on the WAEMU securities market in an issue of 3-year fungible Treasury bonds (OAT) initially targeting CAF30 billion (about $49.3 million).
At the end of this operation, the country received CFA38.4 billion (about $63.2 million) in offers from investors, which corresponds to a coverage rate of 128%. This OAT issue is also characterized by a bullet payment at a rate of 6.1% per annum, payable in the first year.

According to the schedule of public securities issues made available by the UMOA-Titres Agency, Mali plans to raise a total of CFA567 billion (about $933 million) on the regional market this year. This is made up of CFA122 billion treasury bills BATs and CFA445 billion in OATs.

Mali has been engaged for several years in a dynamic of economic growth despite the security challenges it faces. According to the country's authorities, GDP growth rate increased to 4.7% in 2018 and 5.1% in 2019, mainly driven by the good performances in agricultural and mining sectors.

Mali is Africa's fourth-largest gold producer with 67 tons in 2018, contributing 9.1% to its GDP. According to government estimates, this share should rise to 9.4% in 2019. Gold production is expected to reach 72 tons this year, with gold reserves in operating mines estimated at nearly 800 tons.