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Côte d'Ivoire seeks 55bln CFA francs on WAEMU Capital Market, in its first 2020 operation

Tuesday, 14 January 2020 11:21
Côte d'Ivoire seeks 55bln CFA francs on WAEMU Capital Market, in its first 2020 operation

(Ecofin Agency) - Côte d'Ivoire plans to mobilize 55 billion CFA Francs (about $93.4 million) on the money market of the West African Economic and Monetary Union (WAEMU). Through this first operation of 2020, which is taking place today January 14, the country will issue Treasury Bills with maturities of 3 and 12 months, set at 14 April 2020 and 12 January 2021, respectively. Each bill will have a unit value of 1 million CFA francs and will be subscribed at multiple rates.

As planned under the 2020 budget adopted last year, the government will mobilize 1,494.3 billion FCFA ($2.5 billion) on both the WAEMU and international financial markets to finance planned expenditure of about 5,807 billion CFA francs ($9.8 billion), for a budget deficit of about 3% of GDP.

Last year, the country raised 1,382.78 billion CFA francs ($2.3 billion) on the WAEMU capital market to finance development projects.

Moutiou Adjibi Nourou

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