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.

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).