PRESS RELEASE No. 24/109: The IMF Concludes a Staff-Level Agreement with Côte d'Ivoire on the Second Review of the MEDC/FEC Agreements and the First Review of the FRD Agreement.

The end-of-mission press releases contain statements from the IMF staff teams reporting their preliminary findings after their visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily reflect those of the IMF Executive Board. Based on the preliminary findings of this mission, the IMF staff will prepare a report that, subject to management approval, will be presented to the Executive Board for review and decision.

 

"Weight of Ivory Coast in the UEMOA"

Côte d'Ivoire remains the largest market in the UEMOA. It accounts for nearly 21% of the total population of the Union in 2023. Furthermore, it is the leading economic power, contributing on average nearly 40% of the nominal GDP of the UEMOA.

From 2015 to 2023, Côte d'Ivoire has the most dynamic economy in the UEMOA zone, with an average annual growth rate of 6.2%, which is higher than that of the Union (5.4%).

 

Currency notation

Ratings in Foreign Currency

Ivory Coast engages in the international financial market to mobilize foreign savings. To reassure economic operators in this market, rating agencies are called upon to conduct financial ratings. This exercise aims to assess the ability and willingness, in the short and medium term, of a debtor to honor, in a timely manner, all of their financial obligations.

Notation in local currency

Ivory Coast relies on the monetary and financial market of UMOA for resource mobilization. In this regard, local currency ratings allow for the assessment of the issuer's ability to meet its payment obligations in its own currency, namely the FCFA. Thus, in recent years, local currency ratings for Ivory Coast have seen significant progress.

Debt statistics

Debt Statistics

 The public debt situation of the State of Côte d'Ivoire has significantly improved following debt relief and cancellations that occurred at the completion point of the HIPC initiative in June 2012. Key reforms have been undertaken to control borrowing, increase domestic resource mobilization, and create budgetary margins to finance the National Development Plans (PND). 

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