Benin to issue CFAF40 billion bond
The Treasury bonds will be issued on the WAEMU market.Benin will issue on October 13th a new bond worth 40 billion CFA francs (€61 million), the West African Regional Planning Agency 'UMOA-Titres' has announced.
The Treasury bonds will be sold on the market of the West African Economic and Monetary Union (WAEMU) in units of 10,000 CFA francs.
In June, the country successfully issued a 150 billion CFA francs bond, which was subscribed to the tune of 202 billion CFA francs.
The country is using bonds to finance its national budget and establish a larger presence on international markets.
It also enables the government to finance infrastructure projects and continue its economic and social policy with a view to reducing poverty.
The government of Benin has unveiled its action program for the period 2016-2021, which focuses on the clearing and stabilising of the macroeconomic framework.
"We have identified some priority areas, including improving the management and monitoring of economic and financial reforms, monitoring of the macroeconomic environment, the revitalisation of areas of growth and competitiveness and, finally, promoting the private sector," it said in a statement.