The State of Côte d'Ivoire raised this Wednesday, November 25, a Eurobond of 1 billion euros with a repayment rate of 5%. For a target of 600 billion CFA francs (just under one billion euros), the order book recorded an oversubscription.

For the Minister of Economy and Finance, since Côte d'Ivoire has access to international capital markets, the rate of 5% is the lowest ever proposed before. He explains this successful lifting by the leadership of President Alassane Ouatarra and the macroeconomic policies accepted by international institutions (budget deficit of less than 3%, debt ratio of the order of 40% below the WAEMU standard, among others).

This mobilization of resources partly responds to the rectification of the 2020 budget, which has undergone a reorganization with an additional increase of 354.377 billion FCFA (about 538 million euros) due to urgent support to companies affected by Covid-19.

 
But, according to Minister Adama Coulibaly, "the amount of one billion euros has been calibrated on the basis of the objectives pursued, in particular the reduction of refinancing risks on Eurobonds already on the market". And, he says, the objectives of this use of capital markets are to extend the maturity of the debt, reduce foreign exchange risks and finance the reductional needs of the 2020 budget.