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Ivory Coast mobilises more than €380 million on the WAEMU market

20.03.2014

The Ivorian government announced on Monday that it has mobilised in less than a week over Cfaf250 billion (€381.1 million) on the market of the West African Economic and Monetary Union (WAEMU).

The Ivorian government announced on Monday that it has mobilised in less than a week over Cfaf250 billion (€381.1 million) on the market of the West African Economic and Monetary Union (WAEMU).

This sum was raised as part of a bond held from 18 to 25 February 2014. According to a statement from the Ivorian Ministry of Economy and Finance published by Ecofin news agency, this performance is "historical" in the WAEMU zone, as "no country has ever reached this record level of resource mobilisation on the WAEMU market".

The Ministry believes that these results reflect the good health of the Ivorian economy and the credibility of the return of Ivory Coast on the world's financial markets.

This bond is a first step towards a wider operation to raise $1 billion of sovereign debt on international markets in 2014. The objective is to finance major development projects planned under the National Development Plan 2012-2015.

The country had already launched a previous bond in November on the WAEMU financial markets - seeking an amount of Cfaf91billion and a second bond in May. The latter exceeded the government's expectations, generating about Cfaf121 billion, while the general direction of the Public Accounting and Treasury sought to raise Cfaf93 billion.ADNFCR-2976-ID-801704887-ADNFCR