Gabon’s Public Treasury will issue securities and bonds worth 854 billion FCFA on the Central African financial market in 2024, the Minister of Budget and Public Accounts, Charles Mba, announced on Monday.
The money will be raised every month. It will be used to finance major works and social projects planned in the National Development Plan for the Transition put in place by the President of the Transition, Brice Clotaire Oligui Nguéma.
The budget ministry presented the annual Treasury securities strategy on Monday.
According to this presentation made to bank managers and other subscribers, the strategy provides for a total amount of 854 billion FCFA divided into 424 billion FCFA in assimilated Treasury Bonds (BTA) and 430 billion FCFA in assimilated Treasury Bonds (OTA). ).
The difference between BTAs and OTAs is based on the repayment period. BTAs have a maturity of 13, 26 or 52 weeks while the repayment duration of OTAs varies between 3 and 10 years.
Only companies established in CEMAC (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad) are authorized to subscribe. These countries use the single currency: the FCFA. This allows you not to face the exchange rate.
After the Libreville presentation, Gabon will send a delegation to Douala in Cameroon on March 28 and to Brazzaville in Congo on March 30.
The issuance of BTAs and OTAs has become almost compulsory in CEMAC since 2011 when the Bank of Central African States (BEAC) decided in 2008 to put an end to the advances it granted to non-members.
Since this date, Gabon has mobilized 6,462 billion FCFA on the CEMAC market, i.e. 4,453 billion FCFA for BTAs and 2,009 billion FCFA for OTAs.
Currently, Gabon’s debt rate is 54.6% of GDP. Debt service represents 53.1% of GDP.
Camille Boussoughou
2024-03-26 01:10:11
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