(APS) – Banassi Ouatara, acting president of the Agence UMOA-Titres pleaded on Thursday for the development of markets in the community space in order to facilitate the financing of national economies in the face of the constraints of the international market.
”The year 2023 will be a bit difficult because the search for external funding is particularly restrictive. We must therefore develop our domestic market to help States finance their national development plans,” he said.
Banassi Ouatara was speaking in Dakar at the closing ceremony of the public securities market meetings of the West African Economic and Monetary Union.
He praised the organization of such meetings which allowed investors “to meet, discuss various subjects and try to move the market forward”.
According to him, States will find it difficult to take on debt abroad given the rise in market rates during 2023.
According to Mr. Ouattara, 2023 will be a year of continuity and recovery in the wake of covid-19.
He warned, however, that the States “will be faced with challenges linked to the rise in inflation due in part to the Covid crisis which has disrupted the taming chains but also to the crisis in Ukraine”.
According to him, these days allowed the various participants to reflect on the strengthening of State information to investors to facilitate decision-making.
The acting president of UMOA-Titres also announced a didactic program intended for actors to strengthen their skills in areas such as finance.
”We already have a certification program, actors can already register for this program which will allow them to have the basics in finance” he explained.
The Agence UMOA-Titres’s mission is “to actively work towards the establishment of a reference Public Securities Market within the union”.
As such, it supports public treasuries in “determining and formulating their financing needs; the programming and coordination of their interventions in the market; the operational management of public securities issues; promotion of government securities to investors; strengthening their capacities; investment of their cash surpluses.