Togo eyes CFA30 billion in its first issue of the year on the UEMOA market

Public finance
Tuesday, 10 January 2023 17:50
Togo eyes CFA30 billion in its first issue of the year on the UEMOA market

(Togo First) - For its first issue on the UEMOA market this year, which will close on January 13,  Togo will seek CFA30 billion. 

The corresponding operation is a simultaneous issue of fungible treasury bonds. The securities have a nominal value of CFA10,000, respective maturities of 3 and 7 years, and interest rates of 5.3% and 5.9%. 

According to the terms and conditions of the issue, the operation’s proceeds should allow Togo to finance its annual budget; the latter stands at CFA1,957 billion (revenues and expenditures). 

Last year, Lomé raised CFA473 billion on the same market, against a forecast of CFA663 billion under the amending finance law 2022. This year, the country plans to raise CFA574 billion on the UEMOA market to finance its budget. 

Esaïe Edoh

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