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UMOA: Mali raises 65 billion FCFA in stimulus bonds

21/05/2021
Categories: Economy/Forex

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At the end of its simultaneous issuance of a recovery bond (ORD) from the Treasury with a maturity of 3, 5 and 10 years, the State of Mali, through the National Directorate of Treasury and Public Accounts, raised an amount of 65 billion FCFA on 19 May 2021 on the financial market of the West African Monetary Union (UMOA).

The ODR issues initiated by the UMOA-Titres agency in collaboration with the Central Bank of West African States (BCEAO) aim to allow the issuer to mobilize the savings of individuals and legal entities in order to ensure that the financing needs of the State budget of Mali are covered as part of its economic recovery plans in order to contain the effects of the COVID-19 pandemic and resume the performance of before the health crisis.

This program from Mali is the third of its kind after the 87.798 billion FCFA and the 44 billion FCFA raised respectively on 24 February and 31 March 2021. After the auction, the agency UMOA-Titres identified 179.460 billion FCFA in global tenders from investors out of an amount auctioned by the issuer of 65 billion FCFA. This gives a coverage rate of 276.09% for the amount put up for auction. Of the amount of tenders, the Malian Public Treasury retained 65 billion FCFA and rejected the remaining 114.460 billion FCFA, representing an absorption rate of

36.22%.
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