- Treasury raises CFAF 20.1 billion, accepting only 25% of bids
- Strategy contrasts with larger borrowing by regional peers
Benin raised CFAF 20.1 billion ($30.6 million) in its April 3 auction on the WAEMU regional debt market, deliberately limiting accepted bids despite attracting more than CFAF 80 billion ($122 million) from investors. The operation, covering maturities of one, three, five, and seven years, drew a subscription rate exceeding 400%, following an even stronger 600% coverage during the March 20 auction.
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