Ivory Coast's Economic Reform spurs Africa's Highest Sovereign Rating by Moody's

Moody's upgrades Ivory Coast to Ba2, two levels under investment grade.

Deemed one of Africa's promising economies, Ivory Coast has embarked on an economic program over 2023-2026 to ensure macroeconomic stability and boost private investment to grow its economy. The country has also achieved a manageable debt to GDP of approximately 56%, which positions it for more economic growth. The IMF, through its Extended Credit Facility (ECF) and Extended Fund Facility (EFF) 

As reported by Bloomberg, the upgrade reflects confidence in the Ivory Coast's reforms and keen international investors' interest, as reflected in the recent Eurobond rally due to the upgrade.

Both Standard & Poor's and Fitch have last issued a BB- with a stable outlook for the African country