“
It
’s
a historic success
,” said Romuald Wadagni, the Minister of Finance of Benin at the end of a five-day road show marathon in London and New York.
The small West African country has just successfully completed its first dollar issue on the bond markets.
A sign of its financial credibility and solid economic fundamentals based on dynamic growth that the IMF (International Monetary Fund) sees at 6% on average over the next five years.
Cotonou, which was targeting 500 million dollars, received a peak demand of 5 billion and ultimately sold 750 million dollars over a maturity of fourteen years, at an average rate of 7.96%.
A “very satisfactory
”
rate
,
underlines the minister, which places Benin in third position in terms of African sovereign rate levels, behind Morocco and South Africa.
Since the Covid crisis and the succession of external shocks, the war in Ukraine, the surge in inflation and the monetary tightening of central banks...
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