Côte d'Ivoire

It is amazing the difference a few years can make. Over the course of 2012, Côte d’Ivoire has seen a significant improvement in both its current performance and its outlook for short-, medium- and long-term growth. While there remains plenty to be done, the improvement marks something of a return to form for the world’s largest cocoa producer.

Amid the eurozone’s well-publicised difficulties, one might be forgiven for thinking monetary unions are falling out of fashion. However, the appetite for shared currencies is still strong in Africa, with two large regional groupings already proving their benefits, in Francophone West Africa and Francophone Central Africa. Although they are smaller-...

Côte d’Ivoire has seen a dramatic turnaround in its fiscal health in recent years, with an improving outlook for headline growth and a reduced debt load. When the Ivoirian economy hit the skids from the late 1970s onwards, its debt levels spiralled ever higher, increasing ten-fold between 1975 and 1995. Private sector creditors predominated until...

In recent years, Côte d’Ivoire has performed better in macroeconomics and in the management of its public finances compared to what was forecast in the economic and financial framework established with the IMF and the World Bank in 2011.

The tax system in Côte d’Ivoire is based on the legislation that existed at the time of the country’s independence in 1960. It has since undergone several amendments intended to take into account the country’s economic and social evolution and budgetary constraints. A powerful and qualified tax authority enforces taxpayers’ obligations.

Following years of crisis, Côte d’Ivoire has been eager to recapture its former crown as the most dynamic economy in West Africa, and with the benefits of both stability and headline growth, the prospects are encouraging. After decades of chronic under-investment by the public and private sectors alike, much of Côte d’Ivoire’s economic fabric and...