At the end of the first quarter of 2021, the government securities market in the countries of the Economic and Monetary Community of Central Africa (CEMAC) experienced a decline of 5.4% compared to the fourth quarter of 2020. This drop, of after the Supervisory Board of the Securities Settlement and Custody Unit (CRCT) of the Bank of Central African States (BEAC), embraces the current socio-economic context marked by the Covid-19 health crisis and the drop in crude oil prices which impacted operations.

Issues of treasury securities including assimilable treasury bonds (BTA) and assimilable treasury bonds (OTA) amount to 899.25 billion FCFA (1.6 billion dollars) against 950.18 billion FCFA (1 .7 billion) recorded in the fourth quarter of 2020. During the period considered, the general trend is favorable to short-term securities (BTA), representing 59.38% of the volume of issues compared to 40.62% for long-term securities ( OTA). However, the outstanding amount of treasury securities as of March 31, 2021 stood at 3,588.8 billion FCFA (6.5 billion dollars), up 11.27% compared to the situation as of December 31, 2020 and 66 .03%, a year earlier, i.e. 2,161.5 billion FCFA at the end of March 2020. Since January 2020, the Central Bank has noted a recomposition of the Treasury securities market, now mainly made up of (OTA) representing 68.16% of the overall securities portfolio.