The State of Togo was on the financial market of the West African Monetary Union (UMOA) on September 17, 2021. Through its General Directorate of Treasury and Public Accounting, the country raised an amount of 66 billion FCFA ( 99 million euros) at the end of its issue of recovery bonds (ORD) from the Treasury with maturities of 7 and 10 years.

Organized in partnership with the UMOA-Titres agency based in Dakar, the issuance of ODRs aims to enable the issuer to mobilize the savings of natural and legal persons in order to cover the financing needs of the the State of Togo as part of its economic recovery plans in order to contain the effects of the COVID-19 pandemic and restore performance prior to the health crisis. At the end of the auction, the UMOA-Titres agency identified 153.153 billion FCFA in overall bids from investors for an amount put up for auction of 60 billion FCFA, i.e. a significant rate of coverage of the amount put up for auction. of 255.26%. Of the overall amount proposed by investors, the Togolese Public Treasury withheld 66 billion FCFA and rejected the remaining 87.153 billion FCFA, ie an absorption rate of 43.09%.