The debt of Ivorian finance sector rose again to 1.23% of GDP, during the third quarter of 2017, according to figures from a report by the Institute of International Finance. This is a new record since Q3, 2012 when the debt stood at 0.2% of GDP.

The components of this debt were not detailed but according to data on the banking sector’s performance during 2014-16, the securitized debt of the 25 banks which operated in the country over the period under review grew from CFA1184 billion to CFA1431 billion (+20%).

Compared to the neighboring economies mentioned in the report, Côte d’Ivoire’s performance is not that bad. In Ghana, which is the country’s competitor in cocoa production and ECOWAS member, debt in the finance sector surged to 3.72% of GDP, in Q3, 2017. As for Kenya, Tunisia, and Morocco, though they experienced a downward trend, this rate is respectively 2.5%, 3.6% and 4.6% of GDP.

Idriss Linge