Cote d’Ivoire’s Govt Announces Debt Value Of 7.804 Trillion CFA

Cote d’Ivoire’s government has announced that the state’s total debt value is 7.9 trillion CFA, the News Agency of Nigeria (NAN) reports.

Government’s Spokesman, Mr Bruno Kone made the announcement while briefing newsmen at the end of a cabinet meeting in Abidjan.

Kone said the external debt value was estimated at 4,772 trillion CFA while the domestic debt is 3,031.9 trillion CFA.

He explained that the current debt ratio stood at 45.8 per cent of GDP, saying that it fell within the acceptable standard.

According to Kone, the acceptable debt/GDP ratio for the West African Economic and Monetary Union (WAEMU) countries is 70 per cent.

“We must not forget in a hurry that the statistics was different in 2011 when this government came on board.

“The Alassane Ouattara-led government met a debt/GDP ratio of 72 per cent in 2011, today it has fallen within the WAEMU’s acceptable standard,’’ he said

Kone restated Ouattara’s commitment to ensure a well managed economy and assured of the government’s resolve to bring the debt burden under control. (NAN)

Source: Leadership.ng