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Treasury: Ivory Coast raises 148.5 billion FCFA

27/09/2024
Source : ORISHAS-FINANCE
Categories: Index/Markets

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During its issuance of comparable Treasury bonds and bonds, Côte d'Ivoire successfully completed a new round of funding on the regional public debt market, raising 148.5 billion CFA francs (more than $251 million).

The amount raised by Côte d'Ivoire exceeds the 135 billion CFA francs initially planned, with a coverage rate of 117.49%, a sign of the appetite of investors for Ivorian sovereign bonds. The success of this program comes in a context of increased pressure on Ivorian public finances. In reality, this favourable dynamic does not mask the challenges facing Côte d'Ivoire. The State must still honor 128 billion FCFA in debt service before the end of September 2024, at least 147 billion FCFA in October and 120 billion in November, for a total of nearly 400 billion FCFA. The 364-day vouchers issued by Senegal on September 20, 2024 offered a rate of 6.91%, slightly higher than the 6.80% offered by Côte d'Ivoire when it issued at the same maturity date

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