Over the years, the government securities market has become a major source of financing for the economies of the WAEMU region. The amounts raised annually by the Union’s Member States increased from CFAF 3,330 billion in 2016 to CFAF 5,256 billion in 2022, representing a significant growth of 58%.

In a context marked by the decline in concessional resources, the government securities market is expected to maintain this momentum in the coming years, in line with growing financing needs for both major development projects and the measures introduced by States to address the rising cost of living.

These financing needs, which continue to grow in an unfavourable international environment, are expected to be met primarily through the regional market, further demonstrating—if proof were still needed—its importance and the need to implement every initiative required to deepen it and raise it to the highest standards.

Read the full analysis by Banassi OUATTARA, Deputy Director of UMOA-Titres and Acting Director, in the editorial of this issue.