Côte d'Ivoire is active in the international financial market to mobilize foreign savings. To reassure economic operators in this market, it conducts currency ratings that demonstrate the level of satisfaction of the Ivorian economy with international standards.

In this regard, the performances achieved by Côte d'Ivoire in recent years are remarkable, as the scores assigned by the main international financial rating agencies are reassuring to foreign investors.

Indeed, in July 2021, the agencies Fitch and Standard & Poor's, through two similar methodological approaches, respectively assigned Côte d'Ivoire the ratings of BB- with a stable outlook and B+ with a positive outlook. In its report published on February 2, 2024, Fitch Ratings decided to maintain the country's rating at "BB-" with a stable outlook, balancing positive growth prospects with challenges related to moderate development indicators and dependence on raw materials.

Additionally, in November 2024, the agency Moody's confirmed Côte d'Ivoire's financial rating performance by assigning it a "Ba2" rating with a stable outlook, following a new evaluation conducted on March 1, 2024. This is due to the progress made by Côte d'Ivoire in economic, political, and social areas over the past decade, as well as the institution's strong confidence in the government's short- and medium-term reform program.

This includes progress in fiscal consolidation and the credibility of measures planned to achieve a budget deficit of 3% of GDP by 2026, strong growth prospects (expected to be close to 7% by 2026) marked by an increasingly diversified economy in the agri-food and oil sectors, as well as the increase in per capita GDP in recent years, reaching nearly 7,000 USD, according to the Ministry of Finance and Budget.

Côte d'Ivoire thus joins the "Double B" rating category with all three of the largest international rating agencies. On the African continent, only Morocco, Namibia, South Africa, and Côte d'Ivoire are in this category. However, among these countries, Côte d'Ivoire is the only one not suffering from a negative outlook on any of its ratings.

These performances are motivated, among other things, by the resilience of the country's economy, the strength of the macroeconomic framework, and a reduction in political risk with the successful parliamentary elections of March 2021.

On these issues, the Government has taken appropriate measures to ensure security, particularly in the north of the country, through, among other things, the intensification of integration projects and the establishment of the Northern Operational Zone, a security mechanism that allows the Armed Forces of Côte d'Ivoire (FACI) to intensify border controls in that area.

These efforts, combined with the resilience of the Ivorian economy, have led the rating agencies FITCH and STANDARD & POOR'S to maintain their ratings, while MOODY'S has upgraded its rating despite the economic context marked by inflation, the Russia-Ukraine war, and insecurity in the Sahel.

Evolution of Currency Ratings by Major Rating Agencies

Source: Fitch Ratings; Moody's; Standard and Poor's