Ivory Coast relies on the monetary and financial market of UMOA for resource mobilization. In this regard, local currency ratings allow for the assessment of the issuer's ability to meet its payment obligations in its own currency, namely the FCFA. Thus, in recent years, local currency ratings for Ivory Coast have seen significant progress.

In its 2023 publication, Bloomfield Investment Corporation upgraded Ivory Coast's long-term rating from "A" to "A+" with a stable outlook. The short-term rating was maintained at "A2," also with a stable outlook.

This positive reassessment is based on several key factors: (i) an economic recovery that began in 2021; (ii) notable progress in implementing public finance management reforms; (iii) considerable efforts reflected in the strengthening of social indicators; (iv) an ongoing process of political environment de-escalation; (v) generally good budget execution in a context of economic recovery; (vi) maintained debt viability.

The "A+" long-term rating, corresponding to the upper tier of the "low risk" category, confirms the strength of the country's economic fundamentals and attests to its numerous levers to meet its financial commitments in local currency.

Bloomfield Investment Corporation Long-term Rating Scale

 Source : Bloomfield Investment Corporation