Eight members of the West African CFA franc zone plan to issue 2.723 trillion CFA francs in debt in 2019

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Oulimata Ndiaye, issues operations manager of UMOA-Titres said eight countries of the West African CFA franc zone plan to issue 2.723 trillion CFA francs ($4.82 billion) in debt in 2019, compared to 2.433 trillion CFA francs in 2018.

According to Ndiaye, mostly because of lower than expected debt issuances by Ivory Coast and Mali, the total for 2018 was less than the 3.007 trillion CFA francs originally forecast.

The eight-nation Economic and Monetary Union of West Africa (UEMOA) comprises Benin, Burkina Faso, Ivory Coast, Mali, Guinea-Bissau, Senegal, Niger and Togo. They share a regional central bank, La Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO), and the CFA franc currency, which is pegged to the euro.

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