Four countries of the Economic and Monetary Union of West Africa (UEMOA) have started 2015 with treasury bonds issued to support the funding of their development.
According to the documents of the Central Bank of West African States (BCEAO) reported by the Ecofin news agency, Côte d’Ivoire, Benin, Togo and Senegal are concerned by this treasury bonds during the week of from 12th to 16th January 2015.
The total amount of these bonds is 140 billion FCFA (about $ 252 million) divided between the above mentioned countries of the Community.
With an emission of 50 billion FCFA with a maturity of nearly two years (728 days), Côte d’Ivoire carries the biggest load on the 13th January. Benin, Togo and Senegal, will follow with an amount of 30 billion FCFA each and maturity period ranging from 182 days to 1 year.
To these funds is added an injection in the money market by the BCEAO with a cash volume of 919, 310,000,000 FCFA, and another of 1,600 billion FCFA scheduled for 13th January.
The treasury bonds have become a common practice for mobilizing financial resources for countries and West African companies.
Especially last year, 2.5042 trillion FCFA ($ 4.51 billion) were collected by States through these mechanisms.
This amount is greater, by combining these public requests to those of private sector. The total outstanding securities issued in the WAEMU zone were 6,148,780,000,000 FCFA ($ 11 billion) as at 31st December 2014.