W’African Coun­tries to Raise $4.82bn in 2019

THISDAY - - BUSINESS WORLD | NEWS -

The eight coun­tries of the West African CFA franc zone plan to is­sue 2.723 tril­lion CFA francs ($ 4.82 bil­lion) in debt in 2019, com­pared to 2.433 tril­lion CFA francs in 2018, an of­fi­cial from the re­gional mon­e­tary union’s reg­u­la­tor told Reuters on Fri­day.

The to­tal for 2018 was less than the 3.007 tril­lion CFA francs orig­i­nally fore­cast, mostly be­cause of lower than ex­pected debt is­suances by Ivory Coast and Mali, said Ouli­mata Ndi­aye, is­sues op­er­a­tions man­ager of UMOA- Titres.

The eight- na­tion Eco­nomic and Mon­e­tary Union of West Africa ( UEMOA) com­prises Benin, Burk­ina Faso, Ivory Coast, Mali, Guinea- Bis­sau, Sene­gal, Niger and Togo. They share a re­gional cen­tral bank, the BCEAO, and the CFA franc cur­rency, which is pegged to the euro.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.