Public Management

Benin’s Public Debt Reaches $11bn by September 2024, 52.8% of GDP

Benin’s Public Debt Reaches $11bn by September 2024, 52.8% of GDP
Friday, 06 December 2024 11:47

Benin’s public debt is mostly external, totaling $7.8 billion, while domestic debt is $3.13 billion. These represent 37.7% and 15.2% of the country’s GDP, according to the CAGD.

As of September 2024, Benin's public debt has reached CFA6,843.84 billion (about $11 billion), representing 52.8% of the country's GDP, according to the latest report by the national sinking fund (CAGD). This figure shows a slight increase from June 2024, when the debt was estimated at CFA6,756.90 billion, or 52.1% of GDP.

The report reveals that the majority of Benin's public debt is external, amounting to CFA4,887.39 billion, while domestic debt stands at CFA1,956.45 billion, accounting for 37.7% and 15.2% of GDP, respectively.

2405cb3aac6d68b19f8193bca9 xl

Non-resident creditors hold 86.1% of the total debt, with multilateral institutions being the main lenders. On the domestic front, government securities make up 84% of the total debt. As for currency composition, the euro is the dominant currency, followed by CFA francs and the U.S. dollar.

By the end of September 2024, Benin's debt service amounted to CFA647.48 billion, with CFA437.51 billion allocated for principal repayment and CFA209.97 billion for interest.

To manage these commitments within its debt strategy, the Benin government continues to focus on medium- and long-term financing while minimizing risks related to the refinancing of domestic debt. Measures like debt reprofiling and swaps are being considered to reduce costs and control risks.

The government expects the total public debt to reach CFA6,968.9 billion by the end of 2024, or 53.7% of GDP, which is well below the 70% limit set by the West African Economic and Monetary Union (WAEMU).

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• The IMF has approved an immediate disbursement of $367 million to Ghana, bringing the total financial support provided to the country since May...
Zenith Bank is in advanced talks to acquire a tier-two bank in Kenya. The Central Bank of Kenya has raised capital requirements, triggering market...
• DPI acquires minority stake in Egypt’s largest private hospital group• Funds to support expansion across Egypt and key Gulf countries• Investment among...
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.