Ivory Coast has preferred loans denominated in euros in order to limit currency risk. Thus, eurobonds account for around 60% of external commercial debt in 2023

The share of multilateral debt has also increased since 2020, reaching 32% of external debt in 2023. In 2024, the ratio of external debt service to revenue temporarily exceeded the critical threshold, mainly due to the issuance of Eurobonds in January 2024 and all forecast indicators of the external debt burden remain below critical thresholds for the rest of the projection period. The 2023 debt law and the issuance of a Eurobond in early 2024 for a liability management operation consolidated this situation. Positive ratings by agencies such as Moody's and Standard & Poor's have also