Togo raised XOF22 billion on the regional financial market last Friday

Public finance
Monday, 20 April 2020 12:40
Togo raised XOF22 billion on the regional financial market last Friday

(Togo First) - Despite the current health crisis, Togo raised last Friday XOF22 billion on the regional financial market.

In effect, Lomé which was seeking XOF20 billion through the issuance (of short-term fungible treasury bonds) mobilized a total of XOF29 billion (thus representing a subscription rate of 147%). 

This is a new breath of air for the country which currently battles against the Covid-19 pandemic. Regarding the latter, so far, the only international partners to have provided financial support to Togo are the World Bank and the IMF. The first disbursed XOF7 billion to help the country fight the virus while the second disbursed XOF58 billion in addition to approving the provision of the last tranche of Togo’s 3-year ECF arrangement. 

On March 13, Togo mobilized XOF55 billion on the regional market. At the same time, it had just reported its first Coronavirus case. 

Fiacre E. Kakpo

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