The BCEAO has just carried out a liquidity injection of 3350 billion FCFA ($6 billion) at a fixed rate of 2% in favor of several WAMU banks. A total of 87 financial institutions took part in the operation.

The Central Bank of West African States (BCEAO) carried out a new injection of liquidity in favor of its member countries last week. In total, 3350 billion FCFA ($6 billion) have been disbursed by the institution.

During the auction held on September 14, 87 banks in the sub-region obtained an injection of liquidity at a fixed rate of 2%. With more than 1000 billion FCFA ($1.8 billion), Côte d'Ivoire obtained the largest financing, 31% of the funds injected.

It is followed by Senegal with more than 580 billion FCFA ($1 billion), Mali with 466 billion FCFA ($835 million), Benin with 434.5 billion FCFA ($777 million) and Burkina Faso with 318 billion FCFA. ($569 million). Niger with 241.6 billion FCFA ($432 million), Togo with 219 billion FCFA ($392 million) and Guinea-Bissau with 45.5 billion FCFA ($81.5 million) bring up the rear.

This operation comes in a difficult context for West African banks struggling with the covid-19 pandemic which has slowed down activities. Since the beginning of the crisis, the BCEAO has adopted several measures to help banks in the sub-region, so that they continue to finance economic activity.

It should be noted that the maturity of the financing granted to the banks of the West African Monetary Union (WAMU) is set for this Monday, September 21, 2020.