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West African Economic and Monetary Union to raise $55b in 2018

West African Economic and Monetary Union to raise $55b in 2018

West Africa

5.5 billion dollars, this is the amount that seven of the eight Member States of the West African Monetary Union, (UEMOA) intend to raise on the financial market sub regional levels in 2018.

According to the Regional Support Agency for the Issuance and Management of Public Securities in this sub-regional economic integration area, this amount will be split into bills and treasury bonds estimated at approximately $2.2 billion and $3.3 billion, respectively.

According to the timeline published by the said agency, the first quarter of the year will see issues of approximately $1.49 billion, with issues of approximately $1.5 billion for the second quarter , nearly $1.3 billion for the third quarter of the year and around $1.2 billion for the last quarter of 2018.

Ivory Coast has again been ranked the leading issuer of government securities on the financial market UEMOA, with an overall issuance of approximately $1.6 billion.

This was followed by Burkina Faso, $1.06 billion, Mali ($1 billion), Niger ($670 million), Benin ($660 million), Togo ($514 million) and Guinea-Bissau ($46 million).