(Ecofin Agency) - This year, the eight countries of the West African Economic and Monetary Union (WAEMU) plan to issue XOF2,723 billion ($4.82 billion) in the debt market against XOF2,433 billion in 2018, the regional debt planning agency, UMOA-Titres, announced on January 12, 2019.

"When we look at the consolidated calendar of the issuances in 2019, we are reaching an aggregate amount of XOF2,723 billion", said Oulimata Ndiaye, operation manager at UMOA-Titres.

According to the manager, in 2018, the debts issued by those countries was below the XOF3,007 billion planned to be issued due notably to the issuances made by Côte d’Ivoire and Mali which were below the initial forecasts.

Created by the Central Bank of West African States in March 2013, UMOA-Titres counsels issuing countries on matters related to financial markets and, it organizes the discussion between those countries and investors.