Togo ends Q1 2018 with a good performance, on regional debt market

Finance
Monday, 19 March 2018 15:51
Togo ends Q1 2018 with a good performance, on regional debt market

(Togo First) - Togo ends Q1 2018 with a remarkable performance on the regional debt market, UMOA-Titres. Indeed, after recording poor results for its security issuance on March 2, the nation raised CFA17.82 billion over a targeted CFA20 billion (thus an 89.1% coverage) last Friday.

Quite a laudable feat especially considering the mild performance of its neighbor, Benin, the day before. The latter reflects investors’ lack of interest in the region.

Overall, Lomé raised, via securities it issued, about CFA58 billion to finance its budget during Q1 2018.

Next quarter, the government wants to raise CFA40 billion, according to scheduled calendar.

Let’s recall that last week, Togo’s minister of economy and finance announced that a regional bond issued between end-2017 and the beginning of 2018, and arranged by Dakar-based firm CGF Bourse was successful. This operation helped the Treasury raise CFA61.8 billion, while it initially aimed for CFA60 billion.

Fiacre E. Kakpo

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