[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111057-en":3,"doc-seo-111057-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111057,1099513958607,"Jiven","https://ap-avatar.wpscdn.com/avatar/100002390cf8733938c?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778829742770036399",8,"Research & Report","Côte d’Ivoire - Joint World Bank-IMF Debt Sustainability Analysis - Moderate Risk Assessment","Joint World Bank–IMF analysis assesses Côte d’Ivoire’s overall and external public debt sustainability, concluding that the country faces a moderate risk of debt distress, unchanged from the prior DSA. The baseline external debt service-to-revenue indicator breaches the threshold twice during 2024–2025 while remaining below it afterward. Although most indicators are sensitive to stress scenarios, key debt burden breaches are tempered by limited frequency, a history of successful reforms, and strong market access and active debt management. The analysis also documents unchanged debt coverage, evolving macro conditions, and downside risks linked to external financing and FX reserves.","Public Disclosure  \nPub lic Disc losure Authorized  \nApproved by:  \nAbebe Adugna and Manuela Francisco (IDA) and Montfort Mlachila and Boileau Loko (IMF) .  \nPrepared by the staff of the International Development Association (IDA) and the International Monetary Fund (IMF)  \n\n| CÔTE D'IVOIRE: JOINT BANK-FUND DEBT SUSTAINABILITY ANALYSIS |  |\n| --- | --- |\n| Risk of external debt distress | Moderate |\n| Overall risk of debt distress | Moderate |\n| Granularity in the risk rating | Limited space to absorb shocks |\n| Application of judgment | Yes |\n\nCôte d’Ivoire’s overall and external public debt remain at moderate risk of debt distress, unchanged from the last DSA (May 2023 ECF and EFF arrangements request) . The baseline of the external debt service-to-revenue indicator still breaches the threshold twice, in 2024 and 2025, and remains below the threshold during the remainder of the projection period.1 As with the 2023 May DSA, all indicators except the PV of external debt-to-GDP are susceptible to a number of stress scenarios, the most extreme of which involves a shock to exports. The PV of overall debt-to-GDP ratio is below its threshold, but exceeds it in a commodity price shock. The significance of the breaches in debt burden metricsis mitigated by their limited number, Côte d’Ivoire’s history of successful implementation of reforms under the past two Fund arrangements and a satisfactory start of the current arrangement, and the country’s strong track record of market access, sustained active debt management, and moderate risk signal from the market financing pressures tool. The space to absorb shocks remains limited  \n1Under the revised Debt Sustainability Framework for Low-Income Countries, Côte d’Ivoire’s Composite Indicator (CI) is 2.9 based on the April 2023 WEO and the 2021 CPIA, corresponding to a final medium debt carrying capacity.  \n1. The public debt coverage and debt background remains unchanged compared to the last DSA.2 Public debt covers both the debt of the central government, the central bank, and the guarantees provided by the central government, including those guarantees that pertain to state owned enterprises debt. The government is committed to pursue efforts to increase the government capacity to record and monitor public det and contingent liabilities. The magnitude of the shock in the contingent liability stress test applied in the sensitivity analysis reflects potential additional liabilities similar to the last DSA. The public debt keeps on increasing with a growing share of external debt, especially commercial creditors.  \n\n|  |\n| --- |\n| Subsectors of the public sector\u003Cbr>Central government\u003Cbr>State and local government\u003Cbr>Other elements in the general government\u003Cbr>o/w: Social security fund\u003Cbr>o/w: Extra budgetary funds (EBFs)\u003Cbr>Guarantees (to other entities in the public and private sector, including to SOEs)\u003Cbr>Central bank (borrowed on behalf of the government)\u003Cbr>Non-guaranteed SOE debt Check box 1\u003Cbr>2\u003Cbr>3\u003Cbr>4\u003Cbr>5\u003Cbr>6\u003Cbr>7\u003Cbr>8 X\u003Cbr>X\u003Cbr>X\u003Cbr>X\u003Cbr>\u003Cbr> |\n|  |\n\n2. The latest macro-economic developments show a softening of the economic rebound, in line with the last DSA, reflecting the adverse spillovers from Russia’s invasion of Ukraine and the global financial tightening. Real output growth projected at 6.4 percent in 2023, compared to 6.7 percent in 2022, supported by strong industrial and tertiary activities but a mixed agricultural outcome in part due to adverse weather. Inflation remains mainly fueled by food prices and is expected to soften to 4.7 percent by the end of the year from 5.2 percent in 2022. The current account balance is showing improvement due to sizeable terms of trade gains, notably from rising cocoa prices, mostly reversing unfavorable price shifts in 2022. These more favorable prices are expected to last over the long-term. Similarly, regional official reserves which continued to decline so far in 2023 with a sizable contribution from Côte d’Ivoire are expected to","cbCaiasJDAvs0mJ9","https://ap.wps.com/l/cbCaiasJDAvs0mJ9","pdf",640489,1,15,"English","en",105,"# Risk assessment\n## External debt distress indicators\n## Stress scenario sensitivity\n# Debt coverage and background\n## Public debt scope\n## Contingent liabilities\n# Macroeconomic context\n## Growth, inflation, and current account\n## Financing conditions and debt issuance\n# Outlook and risks\n## Downside risks\n## Upside factors","[{\"question\":\"What is the overall and external risk rating for Côte d’Ivoire’s debt distress?\",\"answer\":\"Both the overall risk of debt distress and the risk of external debt distress are rated as moderate, unchanged from the previous DSA.\"},{\"question\":\"Which indicator breaches thresholds and in which years?\",\"answer\":\"The external debt service-to-revenue indicator breaches the threshold twice in 2024 and 2025, then stays below the threshold during the rest of the projection period.\"},{\"question\":\"What factors moderate the significance of debt burden metric breaches?\",\"answer\":\"The report cites a limited number of breaches, a record of successful reforms under the prior Fund arrangements, a satisfactory start of the current arrangement, strong market access, sustained active debt management, and the moderate risk signal from market financing pressures.\"}]",1784488381,38,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"cote-divoire-joint-world-bank-imf-debt-sustainability-analysis-moderate-risk-assessment","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/cote-divoire-joint-world-bank-imf-debt-sustainability-analysis-moderate-risk-assessment/111057/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-22","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What is the overall and external risk rating for Côte d’Ivoire’s debt distress?","Question",{"text":75,"@type":76},"Both the overall risk of debt distress and the risk of external debt distress are rated as moderate, unchanged from the previous DSA.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"Which indicator breaches thresholds and in which years?",{"text":80,"@type":76},"The external debt service-to-revenue indicator breaches the threshold twice in 2024 and 2025, then stays below the threshold during the rest of the projection period.",{"name":82,"@type":73,"acceptedAnswer":83},"What factors moderate the significance of debt burden metric breaches?",{"text":84,"@type":76},"The report cites a limited number of breaches, a record of successful reforms under the prior Fund arrangements, a satisfactory start of the current arrangement, strong market access, sustained active debt management, and the moderate risk signal from market financing 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