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UMOA financial market: Mali fails to raise 25 billion CFA francs

29/08/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Le 23 août 2023 le Mali n' a pas réussi à lever 5 billion CFA francs (38 million euros) on the financial market of the West African Monetary Union (UMOA).

The issuer aimed to raise funds to finance the state budget. The tendering mission made it possible to mobilize 9.5 billion CFA francs, representing a coverage rate of 38%. This failure is caused by the mistrust of investors, especially regional investors. Also, the security crisis that has raged in Mali since 2012 is a major source of concern for investors, who fear a worsening of the country's economic situation. The failure of Mali's tender on the Umoa financial market is a major blow for the country in a context of economic and financial crisis. The government will need to find other sources of funding for its expenses.

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