Côte d’Ivoire achieves safest debt status in sub-Saharan Africa

Côte d’Ivoire secures low-risk debt rating as top regional economy

Following a recent review by the International Monetary Fund (IMF), Côte d’Ivoire has been officially reclassified into the “low risk” category for both external and total public debt distress. This landmark decision positions the nation as the most secure borrower in sub-Saharan Africa, significantly boosting its financial standing on the global stage. This shift marks a major departure from over ten years of “moderate” risk classification, a status the country had held since reaching the completion point of the Heavily Indebted Poor Countries (HIPC) Initiative in 2012.

This upgrade follows two years of rigorous fiscal discipline and consolidation efforts. The improvement reflects Abidjan’s enhanced capacity to manage its obligations through proactive debt strategies and a steady rise in domestic revenue. Projections indicate that by the end of 2025, central government debt will settle at approximately 33,159 billion CFA francs, representing 57.1% of the GDP—a notable decrease from the 59.5% recorded the previous year.

Global markets had already signaled their confidence in the Ivorian economy prior to this official validation. In February, the country successfully raised $1.3 billion through a 15-year Eurobond. The offering was nearly five times oversubscribed, attracting a massive $6.3 billion in orders. Notably, the 5.39% coupon rate represented the lowest borrowing cost for any sub-Saharan issuer in five years. This dual endorsement from both international financial institutions and private investors cements Côte d’Ivoire’s position as the leading sovereign credit reference in the region.