Classée à risque de surendettement «faible» : La Côte d’Ivoire donne les recettes de son solide succès
While Senegal buckles under the weight of a colossal debt, Côte d'Ivoire is being applauded for its debt management. The country has just moved from a "moderate" to a "low" risk of debt distress. It is the only country in sub-Saharan Africa to reach this category. The announcement was made by the IMF following its sixth review.
Kenji Okamura, Acting President and Deputy Managing Director, said that Côte d'Ivoire's results "remained solid" and that the programs linking them have helped to restore macroeconomic stability, bring the budget deficit back to the WAEMU ceiling of 3% of GDP in 2025, reduce external imbalances, but also rebuild a comfortable level of regional reserves and improve the assessment of debt sustainability.
As an added bonus, Côte d'Ivoire has "moved from a moderate to a low risk of over-indebtedness." According to Mr. Okamura, the authorities' prudent and proactive debt management has contributed to improving debt dynamics and reducing related vulnerabilities. The Ivorian government's response was swift.
“According to the debt sustainability analysis (DSA) conducted jointly by the IMF and the World Bank, Côte d’Ivoire is now classified as being at ‘low’ risk of over-indebtedness, both on its external public debt and on its total public debt. It thus becomes the only country in sub-Saharan Africa to reach this category,” the Ivorian Ministry of Economy and Finance rejoiced.
The Ivorian government explained how they arrived at this point. In its statement, reviewed by Seneweb, the department headed by Adama Coulibaly explained that this reclassification is based on three major advances.
The first is "strengthening debt capacity through improved macroeconomic and institutional indicators." The Ivorian government also states that it has implemented "proactive and innovative public debt management" and has also "improved debt dynamics, driven by fiscal consolidation and increased revenue mobilization."
The ministry explains that this shift to a "low" risk rating corresponds to a situation characterized by the absence of debt sustainability thresholds being exceeded. This, it argues, demonstrates the increased resilience of Ivorian public finances to external shocks. "It reflects both more prudent and sophisticated debt management, strengthened budgetary discipline, and an improvement in macroeconomic fundamentals," the financial institution stated.
For the Ivorian government, this new step will offer new room for maneuver in the country's financing strategy. According to them, it constitutes "a strong signal to these countries, as well as to international investors."
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