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Cote d'Ivoire

Author(s):
International Monetary Fund
Published Date:
January 1997
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COTE D’IVOIRE–Basic Data

Area, population, and GDP per capita
Area322,463 square kilometers
Resident population
Total (1995 est.)14.2 million
Growth rate (1987–95)3.6 percent
GDP per capita (1995)CFAF 354,323 (equivalent to US$710)
1992199319941995
Gross domestic product(In billions of CFA francs)
(National accounts, base 1986)
(in current prices)2,9522,9464,1365,031
(In percent of GDP)
Primary sector34.235.131.031.6
Secondary sector21.120.520.419.0
Tertiary sector44.744.448.649.3
Consumption90.890.677.980.5
Total investment5.48.312.013.2
Fixed investment8.57.911.012.5
Change in stocks-3.10.51.00.7
Resource balance3.81.110.16.3
Gross domestic savings9.29.422.119.5
(Percent change in constant prices)
Consumption2.0-1.5-6.49.1
Private0.9-1.1-8.011.4
Public8.0-3.61.9-1.4
Fixed investment-1.8-0.4
Exports of goods and services-0.2-10.68.69.5
Imports of goods and services2.5-1.9-5.427.3
GDP-0.2-0.21.87.0
Prices(Percent change)
Implicit GDP deflator37.813.7
Consumer price index4.20.825.814.3
Central government finances(In billions of CFA francs)
Revenue5835188471,103
Expenditure9428831,1521,323
Of which: current expenditure8537939571,043
Overall fiscal balance (payment order basis) 1/-345-351-275-184
Foreign financing (net, excl. arrears)43-48820202
Domestic financing (net)55130-192-25
Change in external arrears247269-3537
(In percent of GDP)
Revenue19.717.620.521.9
Current expenditure28.926.923.120.7
Capital expenditure3.03.14.75.6
Overall fiscal balance (payment order basis) 1/-11.7-11.9-6.7-3.7
Money and credit(In billions of CFA francs; end of period)
Net foreign assets-571-658-136-6
Net domestic assets1,3861,4381,2801,346
Credit to the government358652528507
Credit to the economy9557588351,002
Other items, net7327-83-163
Money and quasi-money8157791,1441,340
Balance of payments(In millions of U.S. dollars)
Exports, f.o.b.2,9462,5192,8693,870
Of which: cocoa9619459511,294
coffee205244249426
Imports, f.o.b.-1,984-1,784-1,608-2,420
Trade balance9627351,2611,450
Services (net)-1,915-1,711-1,102-1,530
Transfers (net)-313-164-236-392
Current account-1,267-1,140-78-472
Official capital (net) (medium- and long-term)-259-188402-66
Monetary and other capital and errors and omissions (net)213369262334
Overall surplus/deficit-1,313-959586-203
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including grants.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including grants.

Table 1.Côte d’Ivoire: Selected National Accounts Indicators, 1989–95 1/
1989199019911992199319941995
(In billions of CFA francs)
Gross domestic product (GDP) nominal3,112.82,939.32,960.02,952.12,946.04,136.25,031.4
Gross domestic spending (nominal)3,020.02,804.82,870.52,840.12,914.03,718.34,715.9
Resource balance (+ = surplus)92.8134.589.5112.032.0417.9315.5
(Percentage changes)
Real GDP2.9-1.1-0.2-0.21.87.0
Nominal GDP1.9-5.60.737.813.7
GDP deflator-1.0-4.50.737.813.7
Real GDP per capita-1.1-5.0-3.8-4.1-4.0-1.93.1
(Volume change in percent)
Primary sector 2/4.54.71.21.60.13.07.1
Secondary sector3.4-7.21.42.90.83.77.0
Tertiary sector 3/1.8-2.3-1.3-2.9-0.90.26.9
(In percent of GDP)
Primary sector 2/33.032.833.534.235.131.031.6
Secondary sector21.522.921.521.120.520.419.0
Tertiary sector 3/45.544.345.044.744.448.649.3
Resource balance (+ = surplus)3.04.63.03.81.110.16.3
Gross domestic savings11.911.310.49.29.422.119.5
Gross domestic investment (including changes in stock)8.96.77.45.48.312.013.2
Sources: Institut National de la Statistique; Ministère de I’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Including oil production and other extractive industries.

Including import taxes and duties and public administration.

Sources: Institut National de la Statistique; Ministère de I’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Including oil production and other extractive industries.

Including import taxes and duties and public administration.

Table 2.Côte d’Ivoire: Gross Domestic Product by Origin, 1989–95 1/(In billions of CFA francs at current market prices)
1989199019911992199319941995
Primary sector1,026.4963.8991.21,010.01,033.01,282.31,591.1
Food crops565.7631.3668.1720.0736.0888.91,036.5
Export crops408.9283.5284.3250.0257.0339.5482.8
Forestry43.840.433.234.035.046.553.6
Petroleum extraction8.08.55.76.05.07.418.2
Secondary sector670.1672.5636.8623.0604.0841.9957.7
Agro-industries201.4187.5186.2176.0171.0207.6194.1
Energy (including petroleum refining)201.9192.5169.5166.0163.0252.3294.3
Construction and public works75.258.161.760.059.078.299.1
Other industries191.6234.4219.4221.0211.0303.8370.2
Tertiary sector1,416.31,303.01,332.01,319.11,309.02,012.02,482.5
Transportation242.4236.9230.6253.0266.0324.9362.9
Trade services299.6251.2290.3269.1275.0742.31,024.6
Other services259.7271.2282.7224.0235.0328.1395.9
Import duties and taxes194.0150.8145.8169.0152.0190.0257.0
Public administration420.5392.9382.6404.0381.0426.7442.2
Gross domestic product (GDP)3,112.82,939.32,960.02,952.12,946.04,136.25,031.4
Memorandum items:
Population (millions)11.311.712.212.713.213.714.2
GDP per capita
(in thousands of CFA francs)276.4250.8242.9232.9223.6302.2354.3
(in U.S. dollars)866.6921.3861.0879.7789.7544.4710.0
Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Table 3.Côte d’Ivoire: Supply and Use of Resources, 1989–95 1/(In billions of CFA francs at current market prices)
1989199019911992199319941995
Supply of resources
Gross domestic product3,112.82,939.32,960.02,952.12,946.04,136.25,031.4
Imports of goods and nonfactor services904.4796.9798.8830.0814.01,385.61,850.4
Total4,017.23,736.23,758.83,782.13,760.05,521.76,881.8
Use of resources
Consumption2,742.92,608.12,652.62,681.12,669.03,221.64,051.8
Private2,174.62,114.42,168.42,166.22,184.92,678.03,453.5
Public568.2493.8484.3514.9484.1543.7598.3
Gross fixed investment321.2249.9253.8251.0231.4454.9630.5
Private185.0144.6151.8138.2122.5221.0294.6
Public136.2105.4102.0112.8108.9233.9335.9
Change in stocks-44.0-53.3-36.0-92.013.641.833.6
Exports of goods and nonfactor services997.1931.5888.4942.0846.01,803.42,165.8
Total4,017.23,736.23,758.83,782.13,760.05,521.76,881.8
Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Table 4.Côte d’Ivoire: Supply and Use of Resources, 1989–95 1/(In percent of GDP)
1989199019911992199319941995
Supply of resources
Gross domestic product100.0100.0100.0100.0100.0100.0100.0
Imports of goods and nonfactor services29.127.127.028.127.633.536.8
Total129.1127.1127.0128.1127.6133.5136.8
Use of resources
Consumption88.188.789.690.890.677.980.5
Private69.971.973.373.474.264.768.6
Public18.316.816.417.416.413.111.9
Gross fixed investment10.38.58.68.57.911.012.5
Private5.94.95.14.74.25.35.9
Public4.43.63.43.83.75.76.7
Change in stocks-1.4-1.8-1.2-3.10.51.00.7
Exports of goods and nonfactor services32.031.730.031.928.743.643.0
Total129.1127.1127.0128.1127.6133.5136.8
Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Table 5.Côte d’Ivoire: Deflators of Sectoral Output, 1989–95 1/(Annual percentage changes; base year – 1986)
1989199019911992199319941995
Primary sector-1.6-10.41.70.22.220.515.9
Foodcrop agriculture4.88.22.16.7-0.214.811.7
Export agriculture-11.0-35.1-0.1-12.53.432.530.7
Forestry5.9-8.8-7.0-15.122.516.312.3
Petroleum13.05.9-2.0-13.9-4.847.06.6
Secondary sector-3.68.1-6.6-5.0-3.834.46.3
Agro-industries7.4-7.4-0.5-8.2-5.428.2-2.2
Energy-5.93.9-17.3-4.8-2.348.47.6
Construction-4.8-0.9-7.2-12.6-0.316.26.3
Other industries-10.532.2-1.20.5-4.533.310.2
Tertiary sector0.5-5.93.52.00.153.515.4
Of which: transportation-5.5-5.1-7.89.97.127.97.6
services17.8-6.71.1-0.4-5.736.29.0
Overall GDP-1.04.50.737.813.7
Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Sources: Institut National de la Statistique; Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and staff estimates.

New national accounts, INS, 1986–93; and estimates from the forecasting department of the Ministry of Economy and Finance for 1994–95.

Table 6.Côte d’Ivoire: Consumer Price Inflation in Abidjan, 1989–96(Percentage change from year earlier)
High Income

(Price Index 1/

General
Moderate Income

(Price Index 2/

General
Low Income

(Price Index 3/

General
1989 4/2.61.31.0
1990 4/0.9-1.6-0.7
19910.80.91.6
19921.25.44.2
19930.31.60.8
199433.924.625.8
199510.811.414.3
1989 I2.83.02.5
1989 II3.11.40.8
1989 III2.80.50.7
1989 IV2.30.4
1990 I1.5-1.5-0.5
1990 II0.8-2.1-0.6
1990 III-1.7-1.6
1990 IV0.1-1.1-0.5
1991 I-0.20.41.5
1991 II1.21.11.6
1991 III1.50.61.9
1991 IV1.21.41.6
1992 I1.63.02.7
1992 II0.96.14.3
1992 III1.86.85.7
1992 IV0.65.84.4
1993 I5.33.5
1993 II-0.12.11.8
1993 III0.31.81.3
1993 IV0.8-2.7-3.4
1994 I25.014.515.3
1994 II33.523.625.6
1994 III36.629.230.5
1994 IV40.630.932.7
1995 I18.918.922.4
1995 II11.913.516.1
1995 III8.17.910.4
1995 IV5.46.48.6
1996 I2.92.83.2
1996 II3.51.62.1
Sources: Ministère de l’Economie et des Finances; Institut National de la Statistique; and staff estimates.

European-type household.

African-type household, headed by a professional.

Based on a basket of goods derived from a new household consumption survey. The old moderate price index was discontinued in 1988.

No CPI data were compiled between September 1989 and February 1990; the figures for that period thus represent staff estimates.

Sources: Ministère de l’Economie et des Finances; Institut National de la Statistique; and staff estimates.

European-type household.

African-type household, headed by a professional.

Based on a basket of goods derived from a new household consumption survey. The old moderate price index was discontinued in 1988.

No CPI data were compiled between September 1989 and February 1990; the figures for that period thus represent staff estimates.

Table 7.Côte d’Ivoire: Decomposition of Consumer Price Index, 1993–96 1/
Weights1993199419951996
Dec.Dec.Mar.Jun.Sep.Dec.Mar.Jun.Jul.Aug.
Foodstuff48.0126.5144.8151.5145.8142.3146.2152.8150.2150.2
Housing7.8114.7114.7114.7114.7114.7114.7114.7114.7114.7
Public utilities8.5124.7119.4121.7129.4129.2132.1142.2143.8146.8
Household equipment3.4147.1166.4155.0160.6161.6161.9161.8161.6161.9
Clothing10.1158.2168.3165.6167.1167.9171.3171.2171.3171.3
Public transportation6.8138.4138.4138.4138.4138.4138.4138.4138.4138.4
Vehicle5.4141.9141.9141.9141.9141.9141.8141.9140.7140.1
Other household items0.6131.2131.7131.8131.2131.2131.5131.6131.6131.6
Body hygiene1.0141.1149.2151.9156.3156.3156.0156.3156.3156.3
Health services and medicinal drugs0.7142.1147.3153.7154.8154.9154.9155.0155.0155.0
Other consumer goods and services7.7160.4169.1170.5172.1171.9173.6175.3174.9175.6
Consumer Price Index100.0101.4134.1144.7147.6146.0144.4147.0151.2150.0150.3
CPI monthly rate of change (in percent)0.12.80.5-0.2-0.90.30.5-0.80.2
CPI 12-month change (in percent)32.218.613.69.47.71.62.42.12.8
Annual average101.1127.2145.2
Annual average (change in percent)25.814.3
Sources: Ministère de I’Economie et des Finances: Institut National de la Statistique.

Low income price index (average November 1992-October 1993=100).

Sources: Ministère de I’Economie et des Finances: Institut National de la Statistique.

Low income price index (average November 1992-October 1993=100).

Table 8.Côte d’Ivoire: Price Structure of Oil and Gas Products, 1993–96(In CFA francs per liter)
GasolineJet fuelHeavy fuel
PremiumRegularKeroseneDiesel fuelDDOlDD02FO 180
Density at 25 degree celsius kg/10.7570.74530.82490.86980.89220.89220.9396
(As of December 1,1993)
Ex refinery price61.258.971.371.379.776.143.0
Oil specific tax (TSPP)154.1143.631.888.9114.729.031.9
Customs duties6.25.93.6
Statistical levy1.61.51.81.81.91.91.1
Value added tax (VAT)57.052.527.140.548.226.719.0
Harbor user’s tax0.70.70.70.80.90.90.9
Transport equalization tax10.510.510.510.5
Security stock fees and SYDAM0.90.90.90.90.50.50.5
Distributor profit margin20.617.615.814.68.98.95.5
Para fiscal levy (ADSP)19.416.321.30.83.63.9
VAT on distributor margins8.17.47.06.62.62.61.7
Retailer profit margin9.89.28.28.4
Retail price (CFAF/1)350.0325.0200.0245.0229.6134.0101.0
Retail price (CFAF/kg)462.4436.1242.5281.7257.3150.2107.5
Memorandum item:
Total fiscal contribution247.2228.193.5139.5167.864.358.1
(As of October 6, 1995)
Ex refinery price84.076.694.186.993.293.367.2
Oil specific tax (TSPP)127.6119.922.970.5101.428.818.4
Customs duties8.98.24.5
Statistical levy2.22.12.32.02.32.32.0
Value-added tax (VAT)44.641.424.831.939.525.017.7
Harbor user’s tax1.21.21.21.21.21.21.2
Transport equalization tax11.511.511.511.5
Security stock fees and SYDAM1.71.71.71.71.71.71.7
Distributor profit margin29.726.724.923.918.018.014.6
Parafiscal levy (ADSP)59.353.7-6.417.1-3.3-20.0-15.4
VAT on distributor margins20.618.96.611.03.40.3
Retailer profit margin13.813.212.212.4
Retail price (CFAF/1)405.0375.0200.0270.0229.6134.0101.0
Retail price (CFAF/kg)535.0503.2242.5310.4257.3150.2107.5
Memorandum item:
Total fiscal contribution264.9245.956.2134.2144.937.824.5
(As of July 12, 1996)
Density at 25 degree celsius kg/10.74990.74210.82020.85640.89740.89740.9488
Ex refinery price102.095.5106.6102.5110.8110.875.2
Oil specific tax (TSPP)157.5143.31.270.880.71.51.5
Customs duties10.29.55.3
Statistical levy2.62.42.72.62.82.81.9
Value-added tax (VAT)54.450.123.235.238.923.015.7
Harbor user’s tax1.21.21.21.21.21.21.2
Transport equalization tax13.013.013.013.0
Security stock fees and SYDAM1.71.71.71.71.01.01.0
Distributor profit margin29.726.724.923.118.018.014.6
Parafiscal levy (ADSP)
VAT on distributor margins9.18.58.17.84.04.03.3
Retailer profit margin13.813.212.212.4
Stabilization12.06.8
Retail price (CFAF/1)395.0365.0200.0270.0230.9134.8102.0
Retail price (CFAF/kg)526.7491.8243.8315.3257.3150.2107.5
Memorandum item:
Total fiscal contribution235.4215.542.2117.9127.432.323.4
Sources: Ministère des Ressources Minières et Pétrolières: Direction des Hydrocarbures.
Sources: Ministère des Ressources Minières et Pétrolières: Direction des Hydrocarbures.
Table 9.Côte d’Ivoire: Estimates of Food Crop Production, 1989–95(In thousands of tons)
198919901991199219931994

Est.
1995

Est.
Cereals
Rice (paddy)654.0687.0657.0660.0676.0700.7743.0
Maize472.0484.0497.0514.0517.0536.6557.3
Millet49.050.047.047.048.049.250.4
Sorghum25.026.026.026.028.028.625.0
Fonio8.08.08.09.09.09.29.5
Other food crops
Yams2,474.02,528.02,690.02,758.02,771.02,840.32,911.3
Plantain bananas1,067.01,086.01,185.01,226.01,233.01,276.21,365.5
Cassava1,349.01,393.01,465.01,502.01,509.01,582.91,660.5
Taros276.0282.0312.0323.0331.0340.3349.8
Groundnuts (unshelled)127.0134.0130.0133.0133.0140.8149.2
Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.
Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.
Table 10.Côte d’Ivoire: Production and Exports of Cash Crops, 1989–95 1/(In thousands of metric tons)
1989199019911992199319941995
Coffee
Production240285199257150126189
Exports140250221255140144152
Coffee beans132243214247135136143
Processed coffee 2/8788689
Cocoa
Production8327818087658138121061
Exports807787822783893789868
Cocoa beans723670711669789707769
Processed cocoa 2/841171111151048299
Bananas
Production146146174175242202223
Exports113113139149208156172
Pineapples
Production179233202193203205210
Exports of fresh fruit132150134135139143147
Cotton
Production: seed cotton290242261194239258210
Exports: lint898993649610188
Palm oil
Exports46156151198197148120
Sugar
Production145141140155130125119
Exports18231811373211
Rubber
Production67707272728377
Exports60626773727680
Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Bean equivalent.

Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Bean equivalent.

Table 11.Côte d’Ivoire: Export Costs of Cocoa and Coffee, 1989–95 1/(In CFA francs per kilo)
1989199019911992199319941995

Est.
Cocoa
Producer price376.2200.0200.0200.0200.0315.0320.0
Local collection, storage, and handling17.317.317.332.333.0
Marketing center cost11.611.68.010.19.5
Of which: new bags0.00.00.00.00.0
Abidjan storage and exit cost5.116.116.216.829.829.2
Export tax 2/200.0160.0
Exporter’s profit2.32.32.33.33.3
Port handling cost7.77.98.010.210.2
Value (barême)446.0234.2255.0255.4252.4600.7565.1
Other costs (not included in the barême71.938.46.16.65.811.110.7
Total export cost (f.o.b.)517.9272.6261.0262.0258.2611.8575.8
Insurance and freight50.345.129.629.030.575.369.8
Total export cost (c.i.f.)568.2317.7290.7290.9288.7688.2645.6
Coffee
Producer price405.4280.0200.0140.0170.0530.0700.0
Local collection, storage, and handling33.422.018.333.835.3
Value at factory 3/233.4162.0188.3563.8735.3
Marketing center cost42.510.58.0.10.19.5
Abidjan storage and exit cost19.618.218.743.853.3
Export tax 2/82.7200.0110.0
Exporter’s profit2.32.32.33.33.3
Port handling cost7.77.97.910.210.2
Value (barême)554.7329.3305.5200.8225.2831.2921.6
Other costs (not included in the barême)56.341.122.717.118.945.244.9
Total export cost (f.o.b.)611.0370.4328.2217.9244.1876.4966.5
Insurance and freight73.750.824.426.527.576.582.5
Total export cost (c.i.f.)684.7421.2352.6244.4271.6952.81049.0
Source: Agricultural Price Stabilization Fund (CSSPPA).

The data for 1991–95 reflect the approximate cost structure for the crop season beginning in October of the year indicated.

The export tax was suspended in 1989 and reintroduced in January 1994.

Prior to 1991, the data indicate the value of cherries. After 1991, the data refer to the green coffee equivalent.

Source: Agricultural Price Stabilization Fund (CSSPPA).

The data for 1991–95 reflect the approximate cost structure for the crop season beginning in October of the year indicated.

The export tax was suspended in 1989 and reintroduced in January 1994.

Prior to 1991, the data indicate the value of cherries. After 1991, the data refer to the green coffee equivalent.

Table 12.Côte d’Ivoire: Production and Exports of Lumber, 1989–95 1/(Volume in thousands of cubic meters)
1989199019911992199319941995

Est.
Production 2/2,5592,5622,0622,1321,9662,4822,363
Local processing 2/1,0161,001830845814985957
Of which: sawn wood(779)(753)(608)(611)(578)(699)(679)
Exports1,0961,014826721781998921
Logs492417356250320439377
Sawn wood605598470471461559544
Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Roundwood equivalent.

Sources: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Roundwood equivalent.

Table 13.Côte d’Ivoire: Production, Imports, and Exports of Fisheries, 1989–95 1/(Volume in thousands metric tons)
1989199019911992199319941995
Industrial production32.440.034.439.429.528.426.0
Trawler3.23.94.44.64.34.24.6
Sardine fishing28.834.929.834.624.723.721.0
Shrimping and tuna-boating0.41.20.20.20.50.40.4
Artisanal production60.062.047.947.340.345.644.0
Coastal18.020.026.531.926.830.032.7
Lagoonal13.014.0
Continental29.028.021.415.413.515.611.3
Aquaculture0.10.30.30.40.10.1
Total production92.4102.082.687.070.274.170.1
Imports253.4249.0258.6284.0391.4318.9405.5
Exports of canned dish38.341.447.241.430.549.759.0
Sources: Ministère de l’Economie et des Finances; Direction de la Conjoncture et de la Prèvision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Sources: Ministère de l’Economie et des Finances; Direction de la Conjoncture et de la Prèvision Economique; Direction des Grands Travaux, “Productions du Secteur Moteur de l’Economie Ivoirienne 1986–1995”, Septembre 1996.

Exports data provided in this table are not consistent with customs data provided in Table 40.

Table 14.Côte d’Ivoire: Producer Prices in Agriculture, 1989–95(In CFA francs per kilogram)
1989199019911992199319941995
Cocoa 1/376200200200200315320
Coffee 1/405280200140170530700
Cotton (white)11511511510090150170
Paddy (first quality)808080607575110
Oil palm fruit1915.513.51416.519.521.5
Pineapple (industrial use)3028223522
Tobacco (first quality)250175175175175200200
Groundnuts5050508282110110
Copra (Grade I)7070708181110110
Maize45454562626868
Sugar (white cubes) 2/300300300300300350350
Sources: Ministère de l’Agriculture et des Ressources Annimales and Annuaire des Statistiques agricoles, 1993.

The prices are quoted for the crop season (October – September).

Retail price (the refinery price was CFAF 260 throughout the period).

Sources: Ministère de l’Agriculture et des Ressources Annimales and Annuaire des Statistiques agricoles, 1993.

The prices are quoted for the crop season (October – September).

Retail price (the refinery price was CFAF 260 throughout the period).

Table 15.Côte d’Ivoire: Indices of Industrial Production by Branch, 1989–95(October 1984-September 1985 = 100)
1989199019911992199319941995
Extraction of petroleum and minerals13111073332
Grains and flour861007658353228
Preserves and food preparation120118124150137132122
Drinks and ice102857673696784
Vegetable oils123128143137154160152
Other foodstuffs, tobacco9283891001258886
Textiles and clothing1219792899395125
Leather articles, footwear251715171188
Wood industries1081019178748477
Derived petroleum products148150148143131145139
Chemical products9394929095113112
Rubber and derived products154168164168132156145
Construction material, glass193126101113115120134
Transport material63595770616646
Mechanical and electrical industries1241007672636179
Miscellaneous industries, press, and publishing116118125119136135141
Electrical energy, water121111105107122129155
Total1029694939497107
Source: Ministère de l’Economie et des Finances: Institut National de la Statistique.
Source: Ministère de l’Economie et des Finances: Institut National de la Statistique.
Table 16.Côte d’Ivoire: Production and Consumption of Electrical Energy, 1989–95(In gigawatt-hours)
1989199019911992199319941995
Production of electricity2,3622,2951,8111,8472,2522,3682,915
Of which:
hydraulic energy1,5881,3251,2531,0491,0981,1751,776
thermal energy and others7749705587981,0841,1801,138
Consumption of electricity2,0971,8421,9651,8731,8621,9572,140
Of which:
low tension9361,091832782799841915
medium and high tension1,1617511,1331,0911,0631,1161,225
Source: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique.
Source: Ministère de l’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique.
Table 17.Côte d’Ivoire: Indices of Turnover in Commerce, 1989-95(Rates of growth in percent)
1989199019911992199319941995
Food-3.7-52.3-2.4-5.53.744.2-14.6
Textiles and leather-13.7-14.8-3.43.4-27.844.316.4
Automobiles3.9-39.316.053.3-19.543.252.9
Primary materials and equipment5.9-22.3-13.6-6.5-12.478.533.1
Services-9.3-1.0-6.5-8.8-4.125.729.0
Other-0.6-3.16.5-11.1-5.347.519.7
Overall index-3.4-29.2-1.0-9.649.919.4
Sources: Ministère de l’Economie et des Finances; Direction de la Conjoncture et de la Prévision Economique; and BCEAO.
Sources: Ministère de l’Economie et des Finances; Direction de la Conjoncture et de la Prévision Economique; and BCEAO.
Table 18.Côte d’Ivoire: Indices of Levels of Stocks in Commerce, 1989-95(Rates of growth in percent)
1989199019911992199319941995
Food-4.5-50.9-66.4-12.02.36.3-34.5
Textiles and leather-14.9-21.1-17.519.7-37.7-39.012.2
Automobiles-25.8-33.2-30.681.531.7-1.529.7
Primary materials and equ-0.2-6.4-23.0-14.5-14.412.329.7
Other-8.1-3.0-9.45.3-8.139.3-18.8
Overall index-10.1-19.0-24.52.8-6.413.95.8
Sources: Ministère de I’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and BCEAO.
Sources: Ministère de I’Economie et des Finances: Direction de la Conjoncture et de la Prévision Economique; and BCEAO.
Table 19.Côte d’Ivoire: Evolution of the Minimum Wage Rates, 1972-95 1/(In CFA francs)
Rates applicables after:
197219731974197619781979198019821994
Jan. 1Aug. 1Feb. 1Aug. 1Jan. 1Jan. 1Jan. 1Jan. 1Feb. 1
Minimum guaranteed wage: 2/
Hourly58.373.387.692.0115.0143.8158.1174.0191.4210.5
Daily 3/466.4586.4700.8736.0920.01,150.01,265.01,392.01,531.21,684.3
Source: Banque Centrale des États de l’Afrique de l’Ouest (BCEAO).

The official guaranteed minimum wage remained unchanged between January 1, 1982 and February 1, 1994. Actual wages substantially exceed the minimum rate.

Minimum guaranteed interprofessional wage rate for professions in industrial firms with the forty-hour work week.

On the basis of an eight-hour work day.

Source: Banque Centrale des États de l’Afrique de l’Ouest (BCEAO).

The official guaranteed minimum wage remained unchanged between January 1, 1982 and February 1, 1994. Actual wages substantially exceed the minimum rate.

Minimum guaranteed interprofessional wage rate for professions in industrial firms with the forty-hour work week.

On the basis of an eight-hour work day.

Table 20.Côte d’Ivoire: Central Government Financial Operations, 1989-95(In billions of CFA francs)
19891990199119921993

Est.
1994

Est.
1995

Est.
Revenue and grants679.6630.8589.4597.6533.0876.61138.3
Revenue679.6630.8574.4582.6518.0846.91103.3
(as percent of GDP)(21.8)(21.5)(19.4)(19.7)(17.6)(20.5)(21.9)
Tax revenue563.2516.1499.8499.9435.3678.6897.4
Price Equalization Fund surplus (CGPPGC)20.621.626.820.511.22.30.0
Price Stabilization Fund surplus (CSSPPA)0.00.00.019.218.1112.7135.9
Social security contributions45.543.238.337.837.642.652.2
Other nontax revenue50.349.99.55.215.810.817.8
Grants (for projects only)0.00.015.015.015.029.735.0
Primary expenditure903.5694.6650.7634.6628.0817.8979.4
(as percent of GDP)(29.0)(23.6)(22.0)(21.5)(21.3)(19.8)(19.5)
Wages and salaries354.0339.9334.5334.3314.6328.0346.3
Social security benefits37.236.735.636.439.851.365.2
Subsidies and other current transfers26.242.351.7
Other current expenditure260.8208.3191.5174.4156.6201.2236.1
Of which: special accounts70.963.245.727.430.030.044.6
Price Equalization Fund deficit (CGPPGC)0.00.00.00.00.00.00.0
Price Stabilization Fund deficit (CSSPPA)158.535.02.00.00.00.00.0
Investment expenditure93.074.787.189.590.8195.0280.1
Of which: financed by project-loans(42.6)(32.7)(53.5)(42.9)(46.4)(97.5)(121.5)
Primary balance, including grants (payment order) 1/-223.9-63.8-61.3-37.0-95.158.8158.9
(as percent of GDP)(-7.2)(-2.2)(-2.1)(-1.3)(-3.2)(1.4)(3.2)
Interest due on public debt294.0288.4323.1307.7255.9334.2343.2
(as percent of GDP)(9.4)(9.8)(10.9)(10.4)(8.7)(8.1)(6.8)
Domestic debt30.935.629.334.847.444.641.5
External debt 2/3/263.1252.8293.8272.9208.5289.6301.7
Overall balance, including grants (payment order)-517.9-352.2-384.4-344.7-351.0-275.4-184.3
(as percent of GDP)(-16.6)(-12.0)(-13.0)(-11.7)(-11.9)(-6.7)(-3.7)
Domestic financing190.314.162.055.1129.8-186.70.3
Bank financing-14.2-30.8176.4-46.074.6-77.757.8
Of which: IMF counterparts, net(-37.1)(9.3)(-16.6)(-24.3)(-14.1)(55.5)(45.4)
Nonbank financing-2.7-13.8-29.0161.770.5-35.9-48.5
Transfers from public enterprises33.146.522.031.27.836.133.1
Privatization proceeds and sale of assets0.00.08.23.24.09.337.0
Change in arrears, net174.012.2-115.7-95.0-27.1-118.5-79.1
External financing327.6338.1322.4289.6221.1467.7208.9
Cash and deposits0.00.00.00.00.0-1.30.0
Drawings on loans213.0224.1185.8176.9174.9560.2364.3
Amortization due 3/4/-298.7-243.6-255.4-230.4-222.9-326.3-385.9
Change in arrears, net 2/3/226.8234.6236.6246.5269.1-352.67.1
Debt rescheduling186.5123.0155.496.60.0587.7223.4
Coverage adjustment 5/0.00.00.00.00.00.0-23.9
Errors and omissions0.00.00.00.00.05.60.9
Memorandum items:
Primary balance (narrow definition) 6/-181.3-31.1-22.8-9.1-63.7126.6245.4
(as percent of GDP)(-5.8)(-1.1)(-0.8)(-0.3)(-2.2)(3.1)(4.9)
Overall domestic balance (narrow definition) 6/7/15.2-61.926.535.532.9-165.0133.9
(as percent of GDP)(0.5)(-2.1)(0.9)(1.2)(1.1)(-4.0)(2.7)
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Revenue and grants minus primary expenditure (ie., excluding all interest).

Excluding late interests due to the commercial banks from 1993 onward.

After the debt cancellations granted by France and Switzerland im early 1994.

From 1996 onward, including the cost of a commercial bank debt operation (working assumption).

Difference between the coverage of the net credit to the government as defined in the monetary survey and that applicable to central government financial operations.

Excluding investment expenditures financed by project aid.

Equivalent, with the opposite sign, to the net transfer of resources from abroad (excluding project aid).

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Revenue and grants minus primary expenditure (ie., excluding all interest).

Excluding late interests due to the commercial banks from 1993 onward.

After the debt cancellations granted by France and Switzerland im early 1994.

From 1996 onward, including the cost of a commercial bank debt operation (working assumption).

Difference between the coverage of the net credit to the government as defined in the monetary survey and that applicable to central government financial operations.

Excluding investment expenditures financed by project aid.

Equivalent, with the opposite sign, to the net transfer of resources from abroad (excluding project aid).

Table 21.Côte d’Ivoire: Central Government Revenue, 1989-95(In billions of CFA francs)
19891990199119921993

Est.
1994

Est.
1995

Est.
Total revenue679.6630.8574.4582.6518.0846.91103.3
Tax revenue563.2516.1499.8499.9435.3678.6897.4
Direct taxes139.0142.2120.6120.7100.6126.4202.1
Taxes on profits33.432.127.629.819.433.991.2
Individual income taxes55.260.553.956.449.758.068.8
Employers’ contributions 1/40.735.023.918.313.616.317.0
Real estate taxes2.15.97.56.98.27.111.7
Taxes on dividend income7.68.77.89.39.711.113.4
Indirect taxes (excl. petroleum products)111.8118.7130.3131.5116.6131.0167.3
Value-added tax50.756.655.558.753.153.362.0
Prepayment levy for various taxes (ASDI)0.00.019.720.921.329.645.5
Turnover tax on services17.718.218.015.29.211.515.6
Excise taxes on alcohol and tobacco12.711.410.910.410.59.712.0
Taxes on water8.412.75.52.13.53.01.0
Registration and stamp taxes13.711.413.314.813.115.920.6
Business and professional licenses5.35.64.35.73.75.06.8
Other indirect taxes3.32.83.03.72.13.03.6
Taxes on petroleum products81.389.769.897.181.990.898.9
Excise taxes79.175.949.065.057.163.259.2
Value-added tax (VAT)0.03.920.830.723.323.526.1
Customs duties2.29.9-1.41.54.24.6
Price differential ADSP - CAA0.00.0----9.0
Taxes on imports (excluding petroleum products)210.6157.5171.1144.9130.4189.8251.7
Customs, fiscal, and statistical duties96.181.172.975.562.584.0116.9
Other import charges31.814.540.110.311.219.021.6
Value-added tax82.761.958.159.156.786.8113.3
Taxes on exports20.58.08.05.65.7140.5177.4
Coffee and cocoa14.10.0---126.2162.7
Wood and cola6.48.08.05.65.714.314.6
Nontax Revenue116.4114.774.682.782.7168.4205.9
Price equalization fund surplus20.621.626.820.511.22.30.0
Stabilization fund surplus0.00.00.019.218.1112.7135.9
Of which: transfers to the Treasury0.00.00.00.00.044.355.7
Social Security contributions45.543.238.337.837.642.652.2
Other nontax revenue50.349.99.55.215.810.817.8
Of which: petroleum0.00.00.00.00.00.04.9
Memorandum items:
Taxes on goods & services (incl. VAT on imports)273.6260.4258.2286.3253.7304.5365.8
Taxes on imports (excl. VAT on imports)130.1105.5113.087.275.3107.2143.1
Tax revenue excluding export taxes542.7508.1491.8494.3429.5538.1719.9
Levies on cocoa and coffee sector2.10.00.03.218.5238.9290.3
GDP3112.82939.32960.02952.12,946.04,136.25031.4
(In percent of GDP)
Total revenue excl. levies on cocoa and coffee and the government’s contribution to pensions21.421.519.419.117.014.716.0
Levies on cocoa and coffee0.50.00.00.70.65.85.9
Total revenue21.821.519.419.717.620.521.9
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including the government’s contribution to pensions, from 1995 onward.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including the government’s contribution to pensions, from 1995 onward.

Table 22.Côte d’Ivoire: Public Investment Program, 1995-98(In billions of CFA francs)
1995199619971998
Economic development90.1112.7126.4147.0
Agriculture76.393.0111.3129.8
Industry and mining3.85.95.15.0
Tertiary sector10.013.810.012.2
Support to economic development71.669.462.976.9
Transportation40.945.339.055.5
Mail and telephone services0.62.71.50.4
Energy30.121.422.421.0
Social development75.6130.4156.1176.8
Urban planning and housing42.267.693.5111.5
Social intervention3.43.63.84.1
Health22.044.039.339.1
Others8.015.219.522.1
Cultural development42.043.141.053.7
Arts and culture10.79.85.94.4
Education31.333.335.149.3
Support activities33.346.139.243.1
General administration19.532.025.328.7
Defense5.26.26.16.7
Domestic security6.75.86.36.6
Others1.92.11.51.1
Total312.6401.7425.6497.5
Source: Data provided by the Ivoirien authorities.
Source: Data provided by the Ivoirien authorities.
Table 23.Côte d’Ivoire: Education Expenditure, 1991-95 1/(In billions of CFA francs)
19911992199319941995
Primary97.899.0101.4108.9112.0
Wage bill91.093.693.495.594.4
Operating expenditures3.52.14.45.46.9
Transfers and subsidies2.73.13.14.34.7
Investments0.60.20.53.76.0
General secondary65.860.460.365.668.0
Wage bill51.945.344.043.643.2
Operating expenditures5.31.71.72.63.3
Transfers and subsidies8.113.114.014.915.4
Investments0.40.30.64.56.1
Technical secondary13.311.010.79.712.5
Wage bill10.18.27.16.36.0
Operating expenditures2.00.91.01.71.2
Transfers and subsidies0.41.52.11.32.8
Investments0.80.40.50.42.5
University21.219.821.325.233.8
Wage bill8.38.07.88.211.6
Operating expenditures1.11.21.93.56.1
Transfers and subsidies10.710.19.89.17.6
Investments1.20.51.94.48.5
Technical higher level8.79.99.611.614.8
Wage bill4.15.74.54.26.4
Operating expenditures3.11.93.23.64.0
Transfers and subsidies1.52.21.93.33.9
Investments0.00.10.00.50.5
Total206.8200.1203.3221.0241.1
Current expenditure203.8198.7199.8207.5217.5
Wage bill (including TA)165.4160.8156.8157.8161.6
Operating expenditure15.07.812.216.821.5
Transfers and subsisidies23.530.030.932.934.4
Investments3.01.53.513.523.6
Memorandum items:
Share of the budget devoted to education (in percent)
In government primary current expenditure36.236.437.233.331.1
In government investment expenditure3.41.73.86.98.4
In total government primary expenditure31.831.532.427.024.6
Sources: Data provided by the Ivoirien authorities; and World Bank estimates.

Excluding expenditure directly financed by external assistance.

Sources: Data provided by the Ivoirien authorities; and World Bank estimates.

Excluding expenditure directly financed by external assistance.

Table 24.Côte d’Ivoire: Health Expenditure, 1991-95 1/(In billions of CFA francs)
19911992199319941995
Primary15.714.813.218.017.5
Wage bill13.011.010.211.111.1
Operating expenditure2.21.92.03.34.5
Investment0.51.91.03.61.9
Secondary7.19.98.19.69.2
Wage bill5.45.14.85.05
Operating expenditure1.11.91.72.32.5
Investment0.62.91.62.31.7
Tertiary20.615.412.816.121.5
Wage bill11.48.67.18.58.9
Operating expenditure8.24.44.44.85.6
Investment1.02.41.32.87
General administration13.111.418.214.5
Wage bill7.16.47.38.5
Operating expenditure2.32.03.03
Investment3.73.07.93
Total43.453.245.561.962.7
Current expenditure41.342.338.645.349.1
Wage bill29.831.828.531.933.5
Operating expenditure11.510.510.113.415.6
Investment2.110.96.916.613.6
Memorandum items:
Share of the budget devoted to health (in percent)
In government primary current expenditure7.37.87.27.37.0
In government investment expenditure2.412.27.68.54.9
In total government primary expenditure6.78.47.27.66.4
Sources: Data provided by the Ivoirien authorities; and World Bank estimates.

Excluding expenditure directly financed by external assistance.

Sources: Data provided by the Ivoirien authorities; and World Bank estimates.

Excluding expenditure directly financed by external assistance.

Table 25.Côte d’Ivoire: Financial Operations of the Agricultural Price Stabilization Fund (CSSPPA), 1989-95(In billions of CFA francs; unless otherwise indicated)
1989199019911992199319941995

Est.
Revenue-158.2-34.8-1.621.823.5271.4334.9
Result of stabilization operations-158.6-35.0-2.019.522.4270.4332.9
Cocoa-122.4-2.014.433.218.5230.5258.5
Coffee-13.1-31.5-16.4-13.73.939.974.4
Cotton-20.8-1.50.00.00.00.00.0
Other-2.30.00.00.00.00.00.0
Other revenue0.40.20.42.31.11.02.0
Expenditure24.28.79.014.615.828.523.5
Administrative expenditure24.28.79.014.615.826.620.3
Capital expenditure0.00.00.00.00.01.93.2
Balance-182.4-43.5-10.67.27.7242.9311.4
Memorandum items:
Stock of arrears (end of period)198.9236.8
Domestic174.4169.4169.322.212.83.11.6
External24.567.4
Result of stabilization operations (in percent of GDP)-5.1-1.2-0.10.70.86.56.6
Cocoa-3.9-0.10.51.10.65.65.1
Coffee-0.4-1.1-0.6-0.50.11.01.5
Cotton-0.7-0.10.00.00.00.00.0
Other-0.10.00.00.00.00.00.0
Balance (in percent of GDP)-5.9-1.5-0.40.20.35.96.2
Stabilization margin (CFA francs/kg)
Cocoa-151.7-2.517.642.522.8283.9296.1
Coffee-94.4-126.1-74.6-59.021.4313.0475.1
Volume of exports 1/
Cocoa807.0787.0822.0781.4808.5811.9873.0
Coffee139.0250.0220.0231.6182.1127.5156.6
Source: Caisse de Stabilisation et de Soutien des Prix des Produits Agricoles (CSSPPA).

In thousands of metric tons; including bean equivalent of locally processed cocoa and coffee exports.

Source: Caisse de Stabilisation et de Soutien des Prix des Produits Agricoles (CSSPPA).

In thousands of metric tons; including bean equivalent of locally processed cocoa and coffee exports.

Table 26.Côte d’Ivoire: Financial Operations of the Social Security Funds, 1989-95(In billions of CFA francs)
1989199019911992199319941995
Revenue48.044.639.539.945.955.756.0
CNPS 1/28.323.722.024.921.830.632.3
CGRAE 2/19.720.917.515.024.125.123.7
Contributions45.543.238.337.541.142.652.2
CNPS25.822.320.822.519.724.928.9
CGRAE19.720.917.515.021.317.723.3
Other receipts2.51.41.22.44.813.13.7
CNPS2.51.41.22.42.05.73.3
CGRAE0.00.00.00.02.77.40.4
Expenditure53.651.345.645.645.158.174.3
CNPS32.131.427.225.222.325.529.3
CGRAE21.519.918.420.422.832.645.0
Payment of benefits37.236.735.635.937.250.665.2
CNPS16.817.017.615.914.618.420.5
CGRAE20.419.718.020.022.632.244.7
Other current expenditure13.513.69.99.47.87.28.5
CNPS13.213.49.69.17.66.98.2
CGRAE0.30.20.30.30.20.30.3
Capital expenditure3.01.00.10.30.20.30.6
CNPS2.11.00.00.20.10.20.6
CGRAE0.90.00.10.10.10.10.0
Operating balance-5.6-6.7-6.1-5.70.8-2.4-18.3
CNPS-3.8-7.7-5.2-0.3-0.55.13.0
CGRAE-1.81.0-0.9-5.41.3-7.5-21.3
Net lending, CNPS-8.50.10.00.00.00.00.0
Increase (+) in bank deposits, CNPS4.7-7.9-5.3-0.4-0.65.23.0
Sources: Caisse Nationale de Prévoyancc Sociale (CNPS); Caisse Generate de Retraite des Agents de I’Etat (CGRAE); and Ministère de I’Economie et des Finances.

National Social Security Fund.

Pension Fund for Government Employees.

Sources: Caisse Nationale de Prévoyancc Sociale (CNPS); Caisse Generate de Retraite des Agents de I’Etat (CGRAE); and Ministère de I’Economie et des Finances.

National Social Security Fund.

Pension Fund for Government Employees.

Table 27.Côte d’Ivoire - Domestic Debt of the Central Government, 1989-96(In billions of CFA francs at end of year)
19891990199119921993199419951996
Total debt Of which:Total debt Of which:Total debt Of which:Total debt Of which:Total debt Of which:Total debt Of which:Total debt Of which:Total debt Of which:
stockarrearsstockarrearsstockarrearsstockarrearsstockarrearsstockarrearsstockarrearsstockarrears
Total domestic debt700.7369.5880.6390.8979.4352.41025.6269.21198.3288.21121.2188.11252.6177.41175.8116.5
By creditor group:
BCEAO166.30.0319.10.0332.60.0352.30.0400.00.0352.80.0306.90.0344.60.0
Statutory advances135.80.0135.20.0146.50.0166.20.0213.90.0171.50.0141.50.0187.10.0
Consolidated debt30.50.0183.90.0186.10.0186.10.0186.10.0181.30.0165.40.0157.50.0
Commercial banks209.8134.9233.4154.0273.750.7250.769.2248.211.7307.6-0.0374.20.1320.50.1
Debt of the CAA156.696.9181.0114.4218.641.4219.746.2221.93.4254.50.0274.90.1218.30.1
Debt of the CSSPPA51.538.139.539.50.00.00.00.00.00.00.00.00.00.00.00.0
Debt of the Treasury for bank recapitalization0.00.012.90.055.09.331.023.026.38.353.1-0.099.30.0102.20.0
Nonbank sector324.7234.6328.1236.8373.2301.7422.5200.1521.5256.1446.8174.1571.5177.3510.6116.4
CAA bonds52.63.949.712.741.318.635.019.636.37.123.90.084.20.9100.33.3
Other debt of the CAA52.210.854.414.153.19.751.713.351.214.959.0-0.022.80.022.2-0.0
Debt of the CSSPPA136.3136.3129.9129.9169.3169.3190.822.2189.912.8175.83.1139.41.6129.91.6
Debt of the Treasury 1/83.583.594.180.1109.5104.0145.0145.0244.1221.4188.1171.0325.1174.9258.2111.6
By debtor agency:
CAA291.9111.6469.0141.3499.169.8492.679.1495.525.4518.8-0.0547.31.0498.33.3
Debt to BCEAO30.50.0183.90.0186.10.0186.10.0186.10.0181.30.0165.40.0157.50.0
Other debt261.531.5285.1140.6313.069.8306.579.1309.425.4337.5-0.0381.91.0340.83.3
Treasury219.383.5242.180.0311.0113.3342.1167.9484.3229.7412.6171.0565.9174.9547.5111.6
Debt to BCEAO135.80.0135.20.0146.50.0166.20.0213.90.0171.50.0141.50.0187.10.0
Debt to banks0.00.012.90.055.09.331.023.026.38.353.1-0.099.30.0102.20.0
Debt to nonbanks83.583.593.180.0109.5104.0145.0145.0244.1221.4188.1171.0325.1174.9258.2111.6
CSSPPA187.8174.4169.4169.4169.3169.3190.822.2189.912.8175.83.1139.41.6129.91.6
Debt to banks51.538.139.539.50.00.00.00.00.00.00.00.00.00.00.00.0
Debt to nonbanks136.3136.3129.9129.9169.3169.3190.822.2189.912.8175.83.1139.41.6129.91.6
Sources: Caisse autonome d’amortissement (CAA); Ministère de I’Economie et des Finances; and Caisse de stabilisation et de soutien des prix des produits agricoles (CSSPPA).

Including debt of autonomous public entities

Sources: Caisse autonome d’amortissement (CAA); Ministère de I’Economie et des Finances; and Caisse de stabilisation et de soutien des prix des produits agricoles (CSSPPA).

Including debt of autonomous public entities

Table 28.Côte d’Ivoire: Privatization Program
Company’s NameBranchNominal Capital

(in CFAF)
State Share

(in percent)
Date of

Privatization
I. Companies Privatized Between 1990 and mid-1996
CIEElectricity10,000,00020.0Dec 1990
CEIBCattle Processing100.0Aug 1991
CEDAPublishing461,000,000100.0Aug 1991
BINEAPublishing100.0Apr 1992
Recreation Center of Assinie and AssouindieTourism100.0Apr 1992
COSMIVOIREOils and Soaps702,000,00013.2Apr 1993
NOVALJM-NESTLEFood Processing2,600,000,0007.8Apr 1993
CAPRAL-NESTLEFood Processing3,600,000,00015.7May 1993
FILTISACSpinning and Weaving2,115,000,00034.4Jan 1994
SAPHAgriculture (hevea)13,884,373,00055.3Jun 1994
SICORAgriculture (cocoa)500,000,00051.0Aug 1994
SICFRailways3,000,000,000100.0Aug 1994
SICABLECables555,000,00035.0Oct 1994
Complexe Sucrier de MarabadiassaAgriculture (sugar)100.0Nov 1994
ELF OIL-CIPetroleum510,000,00050.0Jan 1995
SOGBNatural Rubber21,601,840,00094.8Feb 1995
CAI SINEMATIALIAgro-Industry100.0Feb 1995
CAI ANGUEDEDOUAgro-Industry100.0Feb 1995
SIFIDAFinanceFeb 1995
SMBAsphalt1,300,000,00092.0May 1995
SILO DE SAN PEDROFlour mill100.0May 1995
DOMAINE HEVEICOLENatural Rubber100.0May 1995
DE L’ETAT-BETTIE
SHELL-CLPetroleum1,800,000,00050.0Jun 1995
SIFALLubricants140,000,00030.0Jun 1995
COFINCIFinanceJun 1995
RIZERIES D’ETATRice Processing100.0Sep 1995
Pêche et Froid CI (PFCI)Fishery250,000,00018.0Nov 1995
CHOCODIChocolate450,000,00014.0Dec 1995
SACOChocolate1,732,000,00035.0Dec 1995
SIVOMHandling Operations in Ports2,000,000,00049.0Feb 1996
DOMAINE HEVEICOLE DE L’ETAT-CAVALLYNatural Rubber100.0Apr 1996
SIPRAPoultry Products750,000,00030.0Apr 1996
SIFERCOMMetallic construction112,000,00019.6Jun 1996
SAFICANotebook Manufacturing160,000,00018.0Jun 1996
II. Companies Offered for Privatization in the Second Half of 1996
PALMINDUSTRIEAgriculture (palm oil)34,000,059,000100.0
Hôtel IvoireTourism8,250,860,000100.0
GDCIGas100,000,00071.0
BIAOBanking5,000,000,000100.0
SAFBAILLeasing420,000,00024.4
TRITURAFCotton Seed Oil1,300,000,0005.0
STEMMetallic Packaging1,889,220,00010.0
HOTELS EX-SIETHOTourism100.0
SIDBLAFRoad Electrical Signal396,000,00045.3
III Companies to be Privatizated in 1997
AIR IVOIREAviation100,000,000100.0
SIRPetroleum31,000,000,00058.0
SODESUCRESugar production30,500,000,000100.0
GESTOCIPetroleum240,000,00012.5
PHCIAgriculture (palm oil)250,000,00034.0
CI-TELECOMTelecommunications4,000,000,00098.0
SIVOAIndustrial inputs873,400,00021.0
SBB/BRACODIBrewery800,600,00011.1
SICOGIConstruction2,000,000,00081.4
SISAShipping200,000,00075.0
SOTRAUrban Transport3,000,000,00060.1
CIDTCotton Processing7,200,000,00070.0
SHADCoffee and Cocoa Trading330,000,0004.9
HOTEL PRESIDENTTourism5,000,00096.0
RANCH DE MARAHOUECattle raising100.0
RANCH DE SIPILOUCattle raising100.0
FERME DE BADKAHACattle raising100.0
Source: Comité de Privatisation.
Source: Comité de Privatisation.
Table 29.Côte d’Ivoire: Central Government and National Public Agencies 1/Average Number of Staff and Wages, 1993-96
1993199419951996
Est.
(In thousands)
Average number of staff123.9120.7118.7116.2
(variation in percent)(…)(-2.6)(-1.7)(-2.1)
Central government108.3105.2103.2102.6
Civil servants97.394.192.291.5
Teachers45.045.545.945.9
Others52.248.646.345.6
Non-civil servants11.111.111.011.1
National public agencies15.615.615.513.6
Civil servants and temporary staff11.611.611.69.7
Non-civil servants3.93.93.93.9
Memorandum items:
Participants in voluntary departure program0.50.70.7
Scholarship recipients86.484.883.783.7
(In millions of CFAF)
Average wages2.12.32.42.4
(variation in percent)(…)(7.4)(3.7)(—)
Central government average wages2.12.32.32.3
Civil servant wages including indemnities2.22.42.52.5
Civil servant wages excluding indemnities1.71.81.92.0
Teachers2.32.42.52.5
Others1.11.21.31.4
Non-civil servant wages0.80.80.90.8
National public agencies2.32.42.42.4
Civil servants and temporary staff2.82.93.03.0
Others0.80.80.91.0
Sources: Data provided by the Ivoirien authorities; and staff estimates and calculations.

Excluding the military.

Sources: Data provided by the Ivoirien authorities; and staff estimates and calculations.

Excluding the military.

Table 30.Côte d’Ivoire: Monetary Survey, 1989-95(In billions of CFA francs; end of period)
1989199019911992199319941995
Dec.Dec.MarchJuneSept.Dec.MarchJuneSept.Dec.
Act. l/Adj. 2/
Net foreign assets-580-574-556-571-549-658-345-269-232-136755616-6
Net domestic assets14371405138813861328143812561242118212801211118611671346
Net credit to the government265230251358593652614607586528423474500507
Of which: customs duty bills-15-10-6-18-18-18-17-18-22-27-20-21-19-19
postal checking deposits21232222222222
Credit to the economy1099106210369557587587067056648358778258251002
Crop credit228192114114808060572517321712691236
Ordinary credit871870922841678678646648639662660699734766
Other items, net7311310173-2327-65-70-69-83-88-112-158-163
Broad money85783183181577977991197394911441286124211831340
Of which: currency in circulation254271259252272272303307288392426382358451
Memorandum items:
Ratio: base money/broad money0.340.370.360.330.380.380.420.370.330.400.370.340.330.38
Velocity of circulation3.33.33.23.33.53.84.13.9
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991-92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991-92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Table 31.Côte d’Ivoire: Summary Accounts of the Central Bank, 1989-95(In billions of CFA francs; end of period)
1989199019911992199319941995
Dec.Dec.MarchJuneSept.Dec.MarchJuneSept.Dec.
Act. l/Adj. 2/
Net foreign assets-422-466-454-505-482-558-377-284-244-1074140-183
Assets514311312109241267211259
Liabilities-426-467-458-508-482-559-380-286-245-217-201-227-229-256
Of which:
net IMF position-116-111-102-75-61-121-166-157-144-182-167-195-182-222
operations account-297-328-331-417-407-407-181-88-7100000
counterpart to SDR allocation-16-14-15-15-14-29-31-31-31-31-29-29-29-29
Net domestic assets701762760776777853762643561570441381408512
Net credit to the government243234227231446505537514465427335336329356
Claims on the government (excluding IMF)136135147166400400405389377299223193167180
Counterpart to net use of Fund resources110115997359119156148136173159195183219
Government deposits (including currency held)-3-17-18-8-13-13-24-23-49-46-47-52-20-43
Claims on deposit money banks45252452253432532522112590130943972141
Net claims on other financial institutions11109977544567812
Other items, net-5-622-016-1-1286-2-13
Base Money279296306271295295385358318462482421390516
Currency in circulation254271259252272272303307288392426382358451
Liabilities to deposit money banks2526471923238150306955393264
Deposits on the money market0024600111106310
Other deposits161210213136936184133241849
Currency held by banks913131210101013111817111314
Other deposits00000022111011
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Table 32.Côte d’Ivoire: Summary Accounts of the Deposit Money Banks, 1989–95(In billions of CFA francs; end of period)
1989199019911992199319941995
Dec.Dec.MarchJuneSept.Dec.MarchJuneSept.Dec.
Act. l/Adj. 2/
Net foreign assets-158-109-102-67-67-101321612-28341633-10
Of which: medium - and long - term-70-65-62-46-49-97-73-73-71-48-45-36-36-35
Net domestic assets759668673627572606575648649778823843790896
Net position vis-à-vis the BCEAO-418-490-478-503-304-304-141-79-63-68-340-53-94
Reserves2725392221218047286760402758
Of which: currency held913131210101013111817111314
Liabilities to the BCEAO-445-515-516-525-325-325-221-126-91-134-95-40-80-152
Net credit to the government3552914216316393109141126105156188168
Claims on the government 3/127118127239262262251267302324369377405409
Deposits of the government 6/-92-113-98-96-99-99-158-158-161-198-264-221-217-241
Credit to the private sector1,0741,0421,020928734734684682638804851797798971
Crop credit228192114114808060572517321712691236
Ordinary credit 4/846850906814654654625626613630634671707735
Other items (net)6811010259-2113-61-64-67-83-98-111-144-148
Deposits of the private sector 5/601559571560505505607664660750857858823886
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis for the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Including claims on the CSSPPA and the CGPPGC.

Excluding claims on the CSSPPA and the CGPPGC.

Excluding deposits of the CSSPPA and the CGPPGC.

Including deposits of the CSSPPA and the CGPPGC.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis for the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

Including claims on the CSSPPA and the CGPPGC.

Excluding claims on the CSSPPA and the CGPPGC.

Excluding deposits of the CSSPPA and the CGPPGC.

Including deposits of the CSSPPA and the CGPPGC.

Table 33.Côte d’Ivoire: Credit to the Government, 1989–95(In billions of CFA francs; end of period)
1989199019911992199319941995
Dec.Dec.MarchJuneSept.Dec.MarchJuneSept.Dec.
Act. l/Adj. 2/
Currency held0.70.80.90.60.80.81.51.20.91.33.41.92.31.5
Deposits at the BCEAO2.416.017.27.612.412.422.622.247.744.643.449.817.841.5
Bank deposits91.7112.598.196.299.299.2158.3158.2161.1198.4264.1220.8217.3241.0
Of which: CSSPPA7.97.012.915.37.37.315.330.735.122.461.744.145.847.3
CGPPGC3.17.85.86.04.34.33.15.05.45.44.54.94.55.2
Customs duty bills14.710.06.317.517.817.816.718.421.726.719.820.518.719.0
Total claims109.5139.3122.5121.9130.2130.2199.1200.0231.4271.0330.7293.0256.1303.0
Liabilities to the BCEAO (excluding IMF)135.8135.2146.5166.2400.0400.1404.8389.4377.1299.3222.5193.3166.5180.2
Counterpart to net use of Fund resources 3/109.8115.198.572.959.2118.5155.8148.2136.4173.2159.4194.8182.7218.6
Liabilities to banks126.9117.5126.9238.6262.4262.4251.0267.2301.8324.3369.2376.5405.1408.9
Of which: CSSPPA43.940.943.411.913.713.713.813.11.30.10.20.20.20.2
CGPPGC1.70.00.10.00.00.00.11.60.41.00.50.40.40.4
Deposits in postal checking accounts1.51.21.62.51.71.71.82.01.92.02.22.12.02.0
Total liabilities374.0369.0373.5480.2723.3782.7813.6806.98173798.8753.3766.7756.3809.7
Net credit to the government 4/264.5229.7251.0358.3593.2652.5614.5606.9585.9527.8422.6473.7500.2506.7
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

BCEAO valuation.

Defined as net position of the government (PNG, definition of the BCEAO) plus net claims on the CSSPPA and the CGPPGC.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Reflects the reclassification of certain assets and liabilities between the government and the private sector at the end of 1993, and statistical adjustments reflecting the bank restructuring operations in 1991–92.

Adjusted on the basis of the actual impact of the devaluation, including the revaluation of the external assets and liabilities of the BCEAO and of the commercial banks held on January 11,1994.

BCEAO valuation.

Defined as net position of the government (PNG, definition of the BCEAO) plus net claims on the CSSPPA and the CGPPGC.

Table 34.Côte d’Ivoire: Distribution of Credit to the Economy, 1989–95 1/
1989199019911992199319941995
(In billions of CFA francs)
Short–term credit680.9736.1662.5664.8580.8811.2887.0
Medium–term credit148.6139.5122.5105.0190.2244.9252.5
Long–term credit27.827.423.524.911.219.423.4
Total857.3903.0808.5794.7782.21075.51162.9
Agriculture, fishing, and livestock15.423.017.79.914.115.716.2
Forestry11.215.212.710.19.714.614.6
Manufacturing industry164.1175.5165.8161.9158.0175.4200.1
Extractive industry4.32.33.60.81.08.319.4
Energy48.843.439.044.846.158.459.9
Building and construction27.828.624.221.521.528.226.6
Transportation61.177.873.952.049.743.246.8
Commerce428.2445.5379.1418.4407.7607.7693.1
Services and other96.491.792.575374.4123.986.2
(In percent of total)
Short–term credit79.481.581.983.774.375.476.3
Medium–term credit17.315.415.213.224.322.821.7
Long–term credit3.23.02.93.11.41.82.0
Total100.0100.0100.0100.0100.0100.0100.0
Agriculture, fishing, and livestock1.82.52.21.21.81.51.4
Forestry1.31.71.61.31.21.41.3
Manufacturing industry19.119.420.520.420.216.317.2
Extractive industry05030.40.10.10.81.7
Energy5.74.84.85.65.95.45.2
Building and construction3.23.23.02.72.72.62.3
Transportation7.18.69.16.56.44.04.0
Commerce49.949346.952.652.156559.6
Services and other11.210.211.49.5951157.4
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Information on the sectoral distribution of credit is collected by the Centrale des Risques and does not cover all outstanding credit of the banking system. Thus, the total reported here is lower than in the monetary survey up to 1992. However, it is higher for 1993, as the statistics of the Centrale des Risques do not reflect the adjustments undertaken in the monetary survey.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Information on the sectoral distribution of credit is collected by the Centrale des Risques and does not cover all outstanding credit of the banking system. Thus, the total reported here is lower than in the monetary survey up to 1992. However, it is higher for 1993, as the statistics of the Centrale des Risques do not reflect the adjustments undertaken in the monetary survey.

Table 35.Côte d’Ivoire: Central Bank Lending Rates, 1975–96(Percent per annum, end of period)
Normal discount rate (TEN)Advances against securities (TEN + 1.5%)Rediscount rate (TES)Special rate for advances to Treasury 1/Repurchase rateAvg. monthly money market rate (TMM)Interbank rate
1975 - July8.0009.500
1980-April10.50012.000
1982-April12.50014.000
1983 - April10.50012.000
1986 - March9.50011.000
September830010.000
1988 - December9.50011.000
1989 - March10.00011.500
October 2/10.5009.25010.250
November11.0009.62510.250
December11.0009.97510.975
1991 - November11.0009.72510.725
1992 - August13.0009.72512.725
Novemer12.5009.72512.725
1993-April12.5009.72511.225
May12.5009.72510.225
October 3/12.5009.72510.5009.350
November12.5009.7259.2508.500
December10.5009.7258.7257.510
1994 - January14.5007.79412.7507.9408.190–12.000
February14.5007.79912.7509.2506.000–11.750
June12.0008.11810.2508.8502.500–9.250
July12.0005.2248.7507.0403.750–7.000
August10.0005.2247.7505.9403.750–7.250
September10.0005.2247.2505.6702.750–6.750
December10.0004.5007.0005.5003.750–7.000
1995 - January9.0004.5007.0005.5004.750–6.250
June8.5004.5006.5005.5005.000–6.500
August8.5004.5006.5005.5005.000–7.000
December7.5004.5956.5006.0215.000–7.250
1996-January7.5004.5066.5005.5005.250–7.250
May7.5004.3656.5005.3754.750–7.000
June7.5004.3656.5005.5004.750–6.000
early July 4/7.5005.3076.5005.9615.000–7.500
mid-July7.5005.3076.5005.2505.000–6.000
early August 5/7.2505.3076.2504.1455.000–7.000
mid-August7.0005.3076.0003.7254.500–6.250
September7.0005.3076.0003.6094.000–6.000
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Rate applicable to advances to government under Article 16 of the BCEAO statutes.

Reform of lending rate structure, involving the abolition of the preferential discount rate and the creation of a special rate for advances to the Treasury.

Introduction of a weekly auction system on the money market on October 18,1993.

Beginning of money market auctions using the Dutch auction system.

Introduction of auctions of central bank bills using the Dutch auction system.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

Rate applicable to advances to government under Article 16 of the BCEAO statutes.

Reform of lending rate structure, involving the abolition of the preferential discount rate and the creation of a special rate for advances to the Treasury.

Introduction of a weekly auction system on the money market on October 18,1993.

Beginning of money market auctions using the Dutch auction system.

Introduction of auctions of central bank bills using the Dutch auction system.

Table 36.Côte d’Ivoire: Commercial Bank Interest Rates, 1988-96(In percent per annum, end of period)
Rates applicable after
Dec.MarchOct.Nov.Aug.Nov.Oct.Dec.Jan.
198819891989198919921992199319931994
Demand deposits 1/susp.susp.freefreefreefreefreefreefree
Time deposits from
CFAF 500,001 to 5.000,000 2/3/
Less than 6 months6.006.506.50 min.7.00 min.9.00 min.8.50 min.TMM-2% 4/TMM-2% 4/TMM-2% 4/
Six months to one year7.257.757.50 min.8.00 min.10.00 min.9.50 min.TMM-2% 4/TMM-2% 4/TMM-2% 4/
Less than one year8.50 min.9.00 min.8.50 min.9.00 min.11.00 min10.50 min.freefreefree
Certificates of deposit over
CFAF 500.000 2/3/
Six months to one year7.257.757.50 min.8.00 min.10.00 min.9.50 min.TMM-2% 4/TMM-2% 4/TMM-2% 4/
More than one year8.50 min.9.00 min.8.50 min.9.00 min.11.00 min.10.50 min.freefreefree
Passbook savings7.007.506.507.00 fixed9.00 fixed8.50 fixed4.50 min.8.00 min.8.00 min.
Lending rates 5/8.50–

14.50
10.00–

15.00
15.50 max.16.00 max.18.00 max.17,50 max.25.00 max.21.00 max.29.00 max.
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

From January 1,1985 to October 2,1989, the payment of interest on demand deposits was suspended.

Until October 2,1989, rates on deposits over CFAF 2 million were half a percentage point higher, at a minimum.

Effective October 1,1993, rates on deposits over CFAF 5 million were completely liberalized.

TMM is the average monthly money market rate published by the BCEAO.

Until October 1,1989, narrower ranges of lending rates (within the ranges shown) applied to different uses and maturities of bank credits. Since October 2,1989, only one maximum rate has been established: the discount rate plus 5 percent up to October 1993, and since then twice the prevailing discount rate.

Rates applicable after
JuneJul.Aug.Jan.Jun.Dec.Apr.early Aug.mid-Aug.
199419941994199519951995199619961996
Demand deposits 1/freefreefreefreefreefreefreefreefree
Time deposits from
CFAF 500,001 to 5,000,000 2/3/
Less than 6 monthsTMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/
Six months to one yearTMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/
More than one yearfreefreefreefreefreefreefreefreefree
Certificates of deposit over
CFAF 500.000 2/3/
Six months to one yearTMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/TMM-2% 4/
More than one yearfreefreefreefreefreefreefreefreefree
Passbook savings8.00 min.4.50 min.4.50 min.4.50 min.4.50 min.4.50 min.3.50 min.3.50 min.3.50 min.
Lending rates 5/24.00 max.24.00 max.20.00 max.18.00 max.17.00 max.15.00 max.15.00 max.14.50 max.14.00 max.
Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

From January 1,1985 to October 2,1989, the payment of interest on demand deposits was suspended.

Until October 2,1989, rates on deposits over CFAF 2 million were half a percentage point higher, at a minimum.

Effective October 1,1993, rates on deposits over CFAF 5 million were completely liberalized.

TMM is the average monthly money market rate published by the BCEAO.

Until October 1,1989, narrower ranges of lending rates (within the ranges shown) applied to different uses and maturities of bank credits. Since October 2,1989, only one maximum rate has been established: the discount rate plus 5 percent up to October 1993, and since then twice the prevailing discount rate.

Source: Banque Centrale des États de I’Afrique de I’Ouest (BCEAO).

From January 1,1985 to October 2,1989, the payment of interest on demand deposits was suspended.

Until October 2,1989, rates on deposits over CFAF 2 million were half a percentage point higher, at a minimum.

Effective October 1,1993, rates on deposits over CFAF 5 million were completely liberalized.

TMM is the average monthly money market rate published by the BCEAO.

Until October 1,1989, narrower ranges of lending rates (within the ranges shown) applied to different uses and maturities of bank credits. Since October 2,1989, only one maximum rate has been established: the discount rate plus 5 percent up to October 1993, and since then twice the prevailing discount rate.

Table 37.Côte d’Ivoire: Stock Exchange Operations, 1989-95
1989199019911992199319941995
(In millions of CFA francs)
Share issues00010,7896,073634110,863
Bond issues
Gross issues15,3099,4869,9592,1582,1772,3562,2397
Amortization1,0254921,15110,9897,4097,4773,126
Net issues14,2858,9948,807-8,831-5,232-5,12119,271
Secondary market2,4475,8501,9121,1371,6036,3927,054
Introductory offers of shares0000000
Sale of blocks of shares000004,0802,650
Other share transactions1,6115,0321,4689871,2982,0474,247
Bond transactions836818444150305265157
(Number; end of period)
Number of quotations62626766605962
Bonds38384340373332
Shares24242426232630
(In billions of CFA francs)
Market capitalization153.3141.1140.2131.4122.3224.2425.1
Bonds58.646.548.131.924229.436.2
Shares94.894.692.199.598.1194.8388.9
Memorandum item:
Stock price index (1985=100)106.3103.7102.262.990.3129.0277.2
Source: Bourse des valeurs d’Abidjan.
Source: Bourse des valeurs d’Abidjan.
Table 38.Côte d’Ivoire: Balance of Payments, 1989–95(In billions of CFA francs)
1989199019911992199319941995
Trade balance284.8353.3248.3254.5208.0700.0724.0
Exports, f.o.b.833.7817.5763.1779.6713.21592.81931.8
Of which: cocoa304.8224.3249.8254.4267.5527.9646.2
coffee92.177.967.354.268.9138.5212.5
Imports, f.o.b.-548.9-464.2-514.9-525.1-505.2-892.8-1207.8
Services, net-611.9-638.0-520.2-506.9-484.4-612.0-763.8
Receipts205.7162.2190.3214.5219.0297.6309.2
Factor income11.212.05.39.011.319.818.5
Other services194.5150.2185.0205.5207.7277.8290.7
Payments-817.6-800.2-710.5-721.4-703.4-909.6-1073.0
Factor income-453.0-444.0-392.1-365.2-398.3-449.6-486.6
Of which: central government interest due 2/-261.2-255.1-207.4-193.1-208.5-289.6-301.7
Other services-364.6-356.3-318.4-356.2-305.1-460.0-586.3
Transfers, net-61.0-74.9-67.7-82.9-46.4-131.2-195.6
Private-122.0-136.5-103.7-100.4-86.4-143.9-217.0
Public61.061.636.017.540.012.721.4
Current account-388.1-359.7-339.6-335.3-322.8-43.2-235.4
Capital account-56.3-13.7-54.8-12.251.4368.8134.1
Official medium- and long-term loans (net)-124.7-16.6-78.1-68.5-53.1223.3-32.8
Project loans51.541.635.027.931.467.886.5
Other bilateral and multilateral loans 1/129.8191.5147.4149.0143.5492.7277.8
Central government amortization due 2/-298.7-243.6-255.4-240.6-222.9-326.3-385.9
Public enterprises amortization due-7.3-6.1-5.1-4.8-5.2-11.0-11.1
Other capital (including private capital, and errors and omissions) 3/68.430.3133.056.3104.5145.5166.8
Of which: government securities 4/0.00.00.00.00.047.078.8
Overall balance-444.3-345.9-284.8-347.5-271.4325.5-101.3
Financing444.3345.9284.8347.5271.4-325.5101.3
Official net reserves (increase: -)5.640.8-14.262.2-25.0-440.8-110.6
Operations account39.431.52.586.5-10.9-515.1-156.0
IMF, net-36.09.3-16.7-24.3-14.155.545.4
Other2.2-0.0-0.00.00.018.80.0
Commercial banks (net)-11.4-49.0-6.610.811.7-72.1-18.7
Changes in arrears263.5234.5150.1147.2284.8-400.37.2
Rescheduling 5/186.6119.6155.4127.30.0587.7223.4
Residual gross financing requirement0.00.00.00.00.00.00.0
Memorandum items:
Operations account (end-of-year)-296.9-328.4-330.9-417.4-406.5108.6264.6
Operations account in months of imports of goods and nonfactor serv.-3.9-4.8-4.8-5.7-6.01.01.8
Total grants138.5132.088.082.871.5112.093.8
Debt cancellation 6/0.00.00.00.00.0257.2104.7
Of which: current interest0.00.00.00.00.061.444.5
Outstanding arrears (end-of-year) 7/756.61014.21178.71337.71632.13051.33079.9
Current account (percent of GDP)-12.5-12.2-11.5-11.4-11.0-1.0-4.7
Public debt service due 8/9/59.254.951.946.548.435.032.9
Public debt service paid 8/10/15.518.319.718.617.525.022.5
Nominal GDP3112.82939.32960.02952.12946.04136.25031.4
CFAF per US $ (yearly average)319.0272.3282.1264.7283.2555.2499.2
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including program loans and EU grants disbursed in the context of programmed financial assistance and Stabex funds.

Debt service due includes obligations to commercial banks, with the exception of interest on arrears. The debt service numbers do not include cancelled debt service obligations and direct payments by public sector enterprises.

Includes short-term capital, other private capital, and errors and omissions.

Consolidated government debt sold by the BCEAO to banks in other WAEMU countries.

Includes the deferred repayment of arrears on post-cutoff-date debt over a three-year period ending in December 1996, and the restructuring of pre-cutoff-date debt service due and of arrears to official bilateral creditors.

Based on the debt cancellation announced by Belgium, France and Switzerland in 1994.

Stock of arrears to commercial banks, including an estimate of late interest.

In percent of exports of goods and nonfactor services.

Before Paris Club rescheduling.

Including changes in arrears.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Including program loans and EU grants disbursed in the context of programmed financial assistance and Stabex funds.

Debt service due includes obligations to commercial banks, with the exception of interest on arrears. The debt service numbers do not include cancelled debt service obligations and direct payments by public sector enterprises.

Includes short-term capital, other private capital, and errors and omissions.

Consolidated government debt sold by the BCEAO to banks in other WAEMU countries.

Includes the deferred repayment of arrears on post-cutoff-date debt over a three-year period ending in December 1996, and the restructuring of pre-cutoff-date debt service due and of arrears to official bilateral creditors.

Based on the debt cancellation announced by Belgium, France and Switzerland in 1994.

Stock of arrears to commercial banks, including an estimate of late interest.

In percent of exports of goods and nonfactor services.

Before Paris Club rescheduling.

Including changes in arrears.

Table 39.Côte d’Ivoire: Balance of Payments, 1989–95(In millions of U.S. dollars)
1989199019911992199319941995
Trade balance892.81297.6880.1961.6734.51260.91450.3
Exports, f.o.b.2613.53002.52705.22945.52518.82869.03869.8
Of which: cocoa955.5823.8885.4961.0944.8950.81294.4
coffee288.7286.2238.7204.6243.5249.4425.7
Imports, f.o.b.-1720.7-1704.9-1825.1-1983.9-1784.2-1608.1-2419.5
Services, net-1918.1-2343.5-1843.8-1915.2-1710.6-1102.4-1530.0
Receipts644.8595.7674.6810.2773.4536.0619.4
Factor income35.144.118.833.839.935.737.1
Other services609.7551.7655.8776.4733.5500.4582.3
Payments-2562.9-2939.2-2518.4-2725.4-2484.0-1638.4-2149.4
Factor income-1420.0-1630.7-1389.8-1379.7-1406.6-809.8-974.8
Of which: central government interest due 2/-818.8-937.0-735.3-729.7-736.5-521.6-604.3
Other services-1142.9-1308.5-1128.7-1345.7-1077.4-828.6-1174.6
Transfers, net-191.2-275.1-240.0-313.2-163.9-236.4-391.8
Private-382.4-501.4-367.6-379.3-305.1-259.2-434.7
Public191.2226.3127.666.1141.322.842.9
Current account-1216.5-1321.0-1203.7-1266.8-1139.9-77.9-471.6
Capital account-176.450.5194.3-46.0181.4664.2268.7
Official medium- and long-term loans (net)-390.8-60.9-277.0-258.7-187.7402.1-65.6
Project loans161.4152.8124.1105.4110.9122.1173.3
Other bilateral and multilateral loans 1/407.0703.3522.3563.1506.9887.4556.4
Central government amortization due 2/-936.2-894.6-905.2-909.0-787.1-587.6-773.0
Public enterprises amortization due-23.0-22.4-18.2-18.2-18.4-19.8-22.3
Other capital (including private capital, and errors and omissions) 3/214.5111.4471.3212.7369.1262.1334.2
Of which: government securities 4/0.00.00.00.00.084.7157.9
Overall balance-1392.8-1270.5-1009.4-1312.8-958.5586.3-202.9
Financing1392.81270.51009.71312.8958.5-586.3202.9
Official net reserves (increase: -)17.6149.9-50.3234.9-88.4-794.0-221.5
Operations account123.5115.78.9326.8-38.5-927.8-312.5
IMF, net-112.734.3-59.1-91.9-49.9100.091.0
Other6.8-0.1-0.10.00.033.90.0
Commercial banks (net)-35.7-180.0-23.440.841.3-129.9-37.5
Changes in arrears826.0861.3532.2556.31005.7-721.014.3
Rescheduling 5/584.9439.3550.9480.90.01058.5447.5
Residual gross financing requirement0.00.00.00.00.00.00.0
Memorandum items:
Operations account (end-of-year)-930.7-1206.2-1173.0-1576.9-1435.6195.6530.0
Total grants434.2484.8311.9312.9252.5201.7187.9
Debt cancellation 6/0.00.00.00.00.0463.2209.7
Of which: current interest0.00.00.00.00.0110.689.1
Outstanding arrears (end-of-year) 7/2371.83725.24178.35053.95764.15495.96169.6
Current account (percent of GDP)-12.5-12.2-11.5-11.4-11.0-1.0-4.7
Nominal GDP9757.810795.810492.511153.010404.47450.010078.9
CFAF per US $ (yearly average)319.0272.3282.1264.7283.2555.2499.2
Sources: Data provided by the Ivoirien authorities; and staff estimates and projections.

Including program loans and EU grants disbursed in the context of programmed financial assistance and Stabex funds.

Debt service due includes obligations to commercial banks, with the exception of interest on arrears. The debt service numbers do not include cancelled debt service obligations and direct payments by public sector enterprises.

Includes short-term capital, other private capital, and errors and omissions.

Consolidated government debt sold by the BCEAO to banks in other WAEMU countries.

Includes the deferred repayment of arrears on post-cutoff-date debt over a three-year period ending in December 1996, and the restructuring of pre-cutoff-date debt service due and of arrears to official bilateral creditors.

Based on the debt cancellation announced by Belgium, France and Switzerland in 1994.

Stock of arrears to commercial banks, including an estimate of late interest

Sources: Data provided by the Ivoirien authorities; and staff estimates and projections.

Including program loans and EU grants disbursed in the context of programmed financial assistance and Stabex funds.

Debt service due includes obligations to commercial banks, with the exception of interest on arrears. The debt service numbers do not include cancelled debt service obligations and direct payments by public sector enterprises.

Includes short-term capital, other private capital, and errors and omissions.

Consolidated government debt sold by the BCEAO to banks in other WAEMU countries.

Includes the deferred repayment of arrears on post-cutoff-date debt over a three-year period ending in December 1996, and the restructuring of pre-cutoff-date debt service due and of arrears to official bilateral creditors.

Based on the debt cancellation announced by Belgium, France and Switzerland in 1994.

Stock of arrears to commercial banks, including an estimate of late interest

Table 40.Côte d’Ivoire: Value, Volume, and Unit Price of Major Exports, 1989–95(Value in billions of CFA francs; volume in thousands of tons; and f.o.b. unit value in CFA franc per kilogram)
1989199019911992199319941995
Coffee, beans
Value69.861.551.537.356.8105.7169.5
Change (in percent)-25.6-11.9-16.2-27.552.086.360.3
Volume135.2243.0198.5208.7226.3136.3144.8
Change (in percent)-24.079.7-18.35.28.4-39.86.3
Unit value516.2253.2259.6178.9250.8775.81170.7
Change (in percent)-2.1-50.92.5-31.140.2209.450.9
Cocoa, beans
Value260.0182.7208.5202.5223.6454.7550.1
Change (in percent)32.6-29.714.2-2.910.4103.321.0
Volume722.7669.9715.4666.6789.4706.9769.1
Change (in percent)78.4-7.36.8-6.818.4-10.58.8
Unit value359.8272.7291.5303.8283.3643.2715.2
Change (in percent)-25.7-24.26.94.2-6.7127.011.2
Logs
Value17.919.313.87.212.027.825.8
Change (in percent)2.97.7-28.6-47.767.3131.0-7.3
Volume341.6340.0242.0193.9268.4329.0283.0
Change (in percent)-1.7-0.4-28.8-19.938.422.6-14.0
Unit value52.456.756.837.144.984.691.2
Change (in percent)4.68.20.2-34.720.988.57.8
Cotton fibre
Value37.144.742.327.632.168.869.0
Change (in percent)-14.120.4-5.2-34.916.5114.20.3
Volume90.990.796.865.8100.8101.088.1
Change (in percent)-7.7-0.26.7-32.053.10.2-12.8
Unit value408.1492.2437.4418.5318.5681.2783.3
Change (in percent)-6.920.6-11.1-4.3-23.9113.915.0
Pineapple
Value12.012.110.711.011.321.523.5
Change (in percent)-24.50.6-11.32.72.890.19.5
Volume121.6135.3114.3118.9125.9143.4149.5
Change (in percent)-15.711.3-15.54.05.913.94.3
Unit value98.789.393.792.589.8149.9157.5
Change (in percent)-10.5-9.55.0-1.3-2.966.95.1
Bananas
Value7.27.79.414.018.432.241.3
Change (in percent)16.96.522.448.531.175.228.0
Volume90.0108.9114.1153.0175.6155.7181.7
Change (in percent)15.721.04.834.114.8-11.316.7
Unit value80.570.982.891.8104.8207.1227.1
Change (in percent)1.0-11.916.810.814.297.69.7
Palm oil
Value11.717.017.920.220.738.844.1
Change (in percent)17.745.85.512.52.887.413.4
Volume83.8168.9163.4175.0210.8163.2135.7
Change (in percent)15.4101.5-3.37.120.5-22.6-16.9
Unit value139.0100.6109.7115.298.3237.9324.6
Change (in percent)-4.1-27.69.15.0-14.7142.136.4
Natural rubber
Value19.017.616.116.115.237.158.7
Change (in percent)-5.0-7.1-8.90.4-5.8144.258.0
Volume61.973.469.575.471.571.083.1
Change (in percent)8.718.4-5.28.5-5.1-0.717.0
Unit value306.8240.5231.2214.0212.5522.9705.9
Change (in percent)-12.6-21.6-3.9-7.4-0.7146.035.0
Coconuts
Value2.02.02.02.02.14.24.3
Change (in percent)13.63.1-2.2-1.25.4102.62.4
Volume31.234.533.433.434.134.134.5
Change (in percent)6.310.6-3.30.02.30.01.0
Unit value63.359.059.758.960.7123.0124.7
Change (in percent)6.9-6.81.1-1.23.0102.61.4
Grains and oilseeds
Value1.11.11.11.11.12.22.2
Change (in percent)13.62.4-2.2-1.23.0102.62.4
Volume14.815.815.315.315.315.315.4
Change (in percent)6.36.4-3.30.00.00.01.0
Unit value71.568.869.668.870.8143.5145.5
Change (in percent)6.9-3.71.1-1.23.0102.61.4
Cacao, transformed
Value44.841.641.251.943.973.296.1
Change (in percent)8.0-7.1-0.925.8-15.466.831.3
Volume80.092.489.3115.083.282.3117.8
Change (in percent)8.315.5-3.428.8-27.6-1.143.2
Unit value560.0450.2461.9451.3527.6889.4815.5
Change (in percent)-0.3-19.62.6-2.316.968.6-8.3
Coffee, processed
Value22.316.415.816.812.232.743.0
Change (in percent)-26.2-26.4-3.76.5-27.5168.331.4
Volume7.46.86.88.05.77.58.3
Change (in percent)-54.2-8.30.717.0-28.632.39.4
Unit value3,018.02,422.92,315.72,106.72,139.04,337.75,209.6
Change (in percent)61.1-19.7-4.4-9.01.5102.820.1
Sawn wood
Value62.583.564.461.567.1166.7179.3
Change (in percent)4.933.6-22.8-4.69.1148.57.6
Volume501.8600.0494.5473.6498.7621.4585.6
Change (in percent)6.019.6-17.6-4.25.324.6-5.8
Unit value124.6139.2130.3129.8134.5268.2306.1
Change (in percent)-1.111.8-6.4-0.43.699.514.1
Textile
Value10.213.510.710.23.917.616.4
Change (in percent)-20.332.5-20.8-5.2-61.6349.9-6.6
Volume7.09.78.57.83.47.56.4
Change (in percent)-18.837.9-12.6-7.4-56.6120.6-14.7
Unit value1,454.21,397.81,266.51,296.51,147.62,340.72,560.7
Change (in percent)-1.9-3.9-9.42.4-11.5104.09.4
Pineapple, processed
Value0.50.60.80.60.40.50.6
Change (in percent)0.028.827.1-28.6-34.338.411.5
Volume2.02.22.22.31.71.51.4
Change (in percent)-1.510.51.34.5-26.1-11.7-8.3
Unit value254.6296.6371.9254.0225.8354.1430.2
Change (in percent)1.516.525.4-31.7-11.156.821.5
Sugar
Value5.85.23.72.26.29.05.5
Change (in percent)56.8-10.3-28.9-39.2176.345.0-39.5
Volume41.652.334.816.139.435.833.9
Change (in percent)74.925.8-33.5-53.7144.7-9.3-5.3
Unit value139.699.5106.3139.5157.5251.8161.0
Change (in percent)-10.4-28.76.931.212.959.8-36.1
Fish products
Value24.831.026.724.218.664.0125.7
Change (in percent)-8.525.2-14.1-9.1-23.3244.596.6
Volume33.341.345.639.830.549.755.4
Change (in percent)-3.224.010.4-12.7-23.462.911.6
Unit value744.4751.4584.2608.2608.81,287.12,267.9
Change (in percent)-5.50.9-22.34.10.1111.476.2
Cement
Value7.17.77.28.58.618.016.3
Change (in percent)26.89.1-6.416.71.2109.8-9.0
Volume213.3243.1236.0266.8281.7424.5439.2
Change (in percent)10.514.0-2.913.05.650.73.5
Unit value33.331.930.731.730.442.337.2
Change (in percent)14.7-4.3-3.63.3-4.239.2-12.1
Crude petroleum
Value0.00.00.00.00.00.014.2
Change (in percent)0.00.00.00.00.00.0100
Volume0.00.00.00.00.00.0248.5
Change (in percent)0.00.00.00.00.00.0100
Unit value0.00.00.00.00.00.057.0
Change (in percent)0.00.00.00.00.00.00.0
Petroleum products
Value92.8113.2108.298.7110.0180.4177.6
Change (in percent)5.122.0-4.4-8.811.564.0-1.6
Volume1,861.81,968.91,862.62,197.52,239.22,087.92,128.7
Change (in percent)1.35.8-5.418.01.9-6.82.0
Unit value49,844.257,498.158,090.644,892.749,112.686,400.083,428.0
Change (in percent)3.815.41.0-22.79.475.9-3.4
Other products
Value125.2138.9110.9166.249.1237.7268.7
Change (in percent)5.211.0-20.149.8-70.5384.113.0
Total exports833.7817.5763.1779.6713.21,592.81,931.8
Sources: Data provided by the Ivoirien authorities; and staff estimates.
Sources: Data provided by the Ivoirien authorities; and staff estimates.
Table 41.Côte d’Ivoire: Direction of Exports, f.o.b., 1989-95(In percent of total)
1989199019911992199319941995
Total100100100100100100100
Europe67.856.457.159.155.257.060.0
European Union62.453.555.056.853.354.657.2
Of which:
Belgium-Luxemburg4.35.84.55.14.84.84.7
France13.67.414.915.916.415.818.1
Germany7.56.97.010.48.69.77.8
Italy5.98.76.88.07.07.07.6
Netherlands22.515.214.27.87.38.88.3
Spain2.83.23.14.63.74.04.5
United Kingdom3.43.32.52.82.91.93.2
Other5.42.92.12.41.92.52.7
Africa19.831.931.928.031.830.630.2
Algeria0.10.40.70.00.40.20.2
Benin0.50.60.60.90.20.20.2
Burkina Faso3.04.24.45.34.95.05.0
Cameroon0.20.40.40.40.40.30.3
Ghana1.73.42.10.70.80.80.8
Mali2.64.45.05.15.85.95.9
Morocco0.30.40.50.80.70.70.6
Niger1.01.31.11.11.31.31.3
Nigeria1.41.71.41.41.31.11.0
Senegal1.72.22.20.00.00.00.0
Togo0.92.51.51.51.71.71.7
Tunisia0.40.60.50.90.80.60.5
Other countries5.89.811.69.913.612.712.6
Asia3.03.23.42.95.45.13.9
China, People’s Republic0.30.10.10.10.10.10.0
Indonesia0.30.40.30.30.50.40.4
Japan1.31.71.40.50.50.40.3
Singapore0.10.40.10.20.20.20.1
Taiwan, Province of China0.80.61.10.91.41.10.7
Other countries0.20.00.40.92.72.92.4
Western Hemisphere6.86.05.67.26.76.35.1
Brazil0.10.00.10.10.50.20.0
Canada0.10.10.00.60.40.80.5
United States6.65.94.96.25.75.04.6
Other countries0.00.00.60.30.10.40.0
Other countries or areas2.72.42.02.70.91.00.9
Source: Direction of Trade Statistics.
Source: Direction of Trade Statistics.
Table 42.Côte d’Ivoire - Merchandise Imports, c.i.f., 1989-95(In billions of CFA francs)
1989199019911992199319941995
Foodstuffs, beverages, and tobacco 1/154.1128.2138.2111.8122.1175.9260.8
Dairy products22.314.114.315.016.515.722.6
Fruits and vegetables, fresh6.05.26.76.04.03.65.5
Fish and shellfish, fresh34.235.638.326.730.155.569.2
Cereals48.241.743.932.142.660.496.4
Of which: rice31.724.631.523.032.742.052.5
wheat14.413.89.28.68.817.928.9
Beverages5.83.24.03.73.35.28.2
Tobacco5.24.73.21.82.33.57.5
Other products32.423.727.826.523.332.051.4
Other consumer goods 2/156.7119.2112.2124.1139.1252.0371.0
Pharmaceutical products39.028.834.834.333.145.261.9
Paper and stationery10.76.98.58.27.810.112.8
Plastic products21.317.319.519.919.144.165.1
Automobiles 3/8.59.310.217.510.227.350.7
Other77.256.939.244.268.9125.3180.5
Raw materials and semifinished products 4/219.2212.7228.9219.4195.6377.5455.8
Rubber products8.26.87.07.56.915.425.0
Petroleum products143.1154.8149.4135.2130.1220.0234.5
Of which: crude oil113.7138.5127.6115.8113.3183.8185.2
Other metal products5.13.12.93.40.85.910.3
Fertilizers4.35.95.58.24.617.724.2
Construction materials13.710.610.213.010.423.729.1
Of which: clinker9.67.16.78.76.819.623.8
Paper and boards19.216.516.618.015.730.852.2
Other25.615.037.334.127.164.080.5
Capital goods 5/143.3108.0114.0160.0118.1227.8291.6
Mechanical54.838.437.341.034.869.0116.1
Electrical24.522.118.212.918.841.456.4
Transportation material 6/22.617.625.682.650.137.773.7
Of which: road vehicles 7/21.116.916.618.319.429.259.8
Precision instruments8.45.65.65.34.910.816.1
Iron and steel products32.823.923.915.47.014.220.4
Other0.20.43.42.82.554.78.9
Total (customs basis), c.i.f.673.3568.1593.3615.3574.91033.21379.2
Memorandum item:
Imports, f.o.b.548.9464.2514.9525.1505.2892.81207.8
Sources: Data provide by the Direction des Douanes; BCEAO; and staff estimates.

Consists of imports under the classification numbers 02; 04; 10; 11; 16; 17; 20; 21; 22; and 24.

Includes imports under the classification numbers 30; 39; 49; 55; and 87.02.01 to 19.

Imports of personal vehicles under the classification numbers 87.02.01 to 19.

Includes imports under the classification numbers 25; 27; 31; 40; and 76.

Includes imports under the classification numbers 73; 84; 85; 86; 87 (excluding 87.02.01 to 19); 88; 89; and 90.

Consists of imports under the classification numbers 87; 88; and 89.

Excluding personal cars (87.02.01 to 19) considered as consumer goods.

Sources: Data provide by the Direction des Douanes; BCEAO; and staff estimates.

Consists of imports under the classification numbers 02; 04; 10; 11; 16; 17; 20; 21; 22; and 24.

Includes imports under the classification numbers 30; 39; 49; 55; and 87.02.01 to 19.

Imports of personal vehicles under the classification numbers 87.02.01 to 19.

Includes imports under the classification numbers 25; 27; 31; 40; and 76.

Includes imports under the classification numbers 73; 84; 85; 86; 87 (excluding 87.02.01 to 19); 88; 89; and 90.

Consists of imports under the classification numbers 87; 88; and 89.

Excluding personal cars (87.02.01 to 19) considered as consumer goods.

Table 43.Côte d’Ivoire: Origin of Imports, c.i.f, 1989-95(In percent of total)
1989199019911992199319941995
Total100100100100100100100
Europe56.351.752.256.249.445.452.3
European Union54.750.050.156.049.244.751.5
Of which:
Belgium-Luxemburg2.53.52.82.62.63.22.5
France28.727.628.336.330.427.732.0
Germany5.54.23.83.02.43.23.9
Italy5.33.43.33.83.83.13.8
Netherlands4.73.83.94.43.42.82.7
Spain3.83.63.81.92.71.42.5
United Kingdom2.41.92.32.32.51.62.7
Other European countries1.61.72.10.20.20.80.8
Africa22.629.627.326.833.837.128.7
Algeria0.00.00.00.00.00.00.0
Benin0.20.30.10.10.00.00.0
Burkina Faso0.10.10.10.00.00.10.1
Cameroon0.20.20.30.40.50.70.5
Ghana0.90.20.33.03.94.94.0
Mali0.30.60.10.10.20.20.2
Mauretania1.01.21.01.01.31.51.3
Morocco0.40.20.40.30.40.40.6
Niger0.10.10.30.30.40.50.4
Nigeria16.023.021.520.324.326.519.6
Senegal0.91.01.20.90.00.00.0
Other countries2.62.82.00.42.72.32.0
Asia10.97.410.29.08.86.99.2
China, People’s Republic0.70.32.22.22.61.01.7
Japan2.72.43.53.82.72.63.2
Pakistan0.51.11.40.20.00.20.1
Taiwan, Province of China1.90.50.90.20.90.60.8
Other countries5.13.12.12.62.62.53.4
Western Hemisphere7.27.58.76.66.58.37.3
Brazil1.11.01.71.11.31.71.0
Canada1.00.50.50.20.10.20.3
United States4.34.85.53.94.35.75.9
Other countries0.81.21.01.30.70.60.1
Other countries or areas3.03.81.61.41.42.22.5
Source: Direction of Trade Statistics.
Source: Direction of Trade Statistics.
Table 44.Côte d’Ivoire: External Trade Indices, 1989-95
1989199019911992199319941995
(1985 = 100)
Merchandise exports, f.o.b.
Value index 1/67.966.663.561.256.0125.0151.7
Volume index111.5124118.1119.1106.0111.2120.1
Unit value index 1/60.953.854.051.653.0112.9126.8
Merchandise imports, f.o.b.
Value index 1/85.472.375.176.873.9130.5176.6
Volume index90.778.680.686.278.771.097.9
Unit value index 1/94.191.892.988.893.5183.1179.6
Terms of trade index64.758.658.058.056.661.570.5
(Annual percentage change)
Merchandise exports, f.o.b.
Value index 1/4.9-1.9-4.6-3.6-8.5123.321.3
Volume index9.411.2-4.80.9-11.04.98.0
Unit value index 1/-4.1-11.70.2-4.42.8112.812.3
Merchandise imports, f.o.b.
Value index 1/8.8-15.43.92.2-3.876.735.3
Volume index-0.7-13.42.67.0-8.7-9.837.9
Unit value index 1/9.5-2.41.2-4.55.395.8-1.9
Terms of trade index-12.4-9.5-0.90.1-2.48.714.5
(In percent of GDP)
Merchandise exports, f.o.b.26.827.825.826.424.238.538.4
Merchandise imports, f.o.b.17.615.817.417.817.121.624.0
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Trade data in terms of CFA francs; balance of payments basis.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Trade data in terms of CFA francs; balance of payments basis.

Table 45.Côte d’Ivoire: Services and Transfers, 1989-95(In billions of CFA francs)
1989199019911992199319941995
Services, net-611.9-638.0-520.2-506.9-484.4-612.0-763.8
Credit205.7162.2190.3214.5219.0297.6309.2
Freight and insurance45.039.538.435.435.158.048.0
Other transportation55.635.241.942.746.555.761.7
Travel22.013.017.622.217.928.735.8
Investment income11.212.05.39.011.319.818.5
Government, n.i.e.31.929.054.752.954.766.069.8
Other services40.033.532.452.353.569.475.4
Debit-817.6-800.2-710.5-721.4-703.4-909.6-1073.0
Freight and insurance-109.6-94.2-89.5-87.2-85.7-140.4-200.0
Other transportation-62.0-55.0-55.3-59.8-66.5-77.5-80.2
Travel-55.5-69.4-45.8-49.5-47.7-65.3-81.6
Investment income-381.5-356.7-312.4-294.4-311.7-426.6-461.6
Of which: interest on government’s debt 1/-261.2-255.1-207.4-193.1-208.5-289.6-301.7
Government, n.i.e.-45.0-47.7-27.1-33.9-33.4-60.3-67.2
Other services-164.0-177.3-180.4-196.6-158.4-139.5-182.3
Transfers, net-61.0-74.9-67.7-82.9-46.4-131.2-195.6
Public transfers61.061.636.017.540.012.721.4
Credit98.098.672.053.567.049.758.4
Debit-37.0-37.0-36.0-36.0-27.0-37.0-37.0
Private transfers-122.0-136.5-103.7-100.4-86.4-143.9-217.0
Credit4.14.013.915.015.029.636.0
Debit-126.1-140.5-117.6-115.4-101.4-173.5-253.0
Memorandum items:
Freight and insurance as percentage of imports, c.i.f.-16.3-16.6-15.1-14.2-14.9-13.6-14.5
Services, net, as percent of GDP-19.7-21.7-17.6-17.2-16.4-14.8-15.2
Transfers, net, as percent of GDP-2.0-2.5-2.3-2.8-1.6-3.2-3.9
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Interest on government debt data provided in this table are not consistent with those provided in the central government financial operations table (Table 20) for the period 1989-92.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Interest on government debt data provided in this table are not consistent with those provided in the central government financial operations table (Table 20) for the period 1989-92.

Table 46.Côte d’Ivoire: Movements of Capital, 1989-95(In billions of CFA ftancs)
1989199019911992199319941995
Capital flows (net)-56.313.754.8-12.251.4368.8134.1
Medium- and long-term-99.7-8.6-4.8-19.3-37.5314.3111.2
Official capital-124.7-16.6-78.1-68.5-53.1223.3-32.7
Program loans129.8191.5147.4149.0143.5492.7277.8
Project loans51.541.635.027.931.467.886.5
Central government amortization due-298.7-243.6-255.4-240.6-222.9-326.3-385.9
Public enterprises-7.3-6.1-5.1-4.8-5.2-11.0-11.1
Other0.00.00.00.00.00.00.0
Private capital25.08.073.349.215.691.0143.9
Direct investment7.07.012.89.36.829.047.0
Commercial credits2.02.057.435.45.015.018.2
Other16.0-1.03.14.53.847.078.8
Short-term20.0-6.03.03.0-22.072.67.3
Official capital0.00.00.00.00.00.00.0
Private capital20.0-6.03.03.0-22.072.67.3
Errors and omissions23.428.356.74.1110.9-18.115.6
Sources: Caisse Autonome d’Amortissement (CAA); BCEAO; and staff estimates.
Sources: Caisse Autonome d’Amortissement (CAA); BCEAO; and staff estimates.
Table 47.Côte d’Ivoire: External Public Debt Service Operations, 1989-95 1/(In billions of CFA francs)
1989199019911992199319941995
Debt service (accrual basis)
Interest payments261.2255.1207.4193.1208.5289.6301.7
Official creditors153.2150.6168.3165.9192.3281.4295.7
International institutions65.260.169.169.368.8132.2118.6
Of which: IMF13.510.29.89.06.44.65.3
Paris Club75.377.275.681.6104.7127.6156.9
Other12.813.223.515.018.821.620.2
Private creditors108.0104.539.227.316.38.26.0
London Club102.4101.935.324.912.46.02.7
Other5.62.63.92.43.92.23.3
Amortization payments347.8276.0284.8264.9237.0365.6430.0
Official creditors192.6154.8177.4174.2159.2301.8386.3
International institutions97.969.978.382.274.3176.8174.9
Of which: IMF49.132.429.424.314.139.144.1
Paris Club94.784.999.192.184.9125.0211.4
Private creditors155.2121.2107.490.777.763.843.7
London Club148.9118.1101.486.967.153.322.1
Other6.33.16.03.710.610.521.6
Debt relief from Paris Club 2/142.9119.6155.4127.30.0575.4223.4
Interest57.844.174.949.30.0187.394.8
Principal85.175.580.578.00.0388.1128.6
Debt relief from private creditors 2/43.90.00.00.00.012.30.0
Interest0.00.00.00.00.02.80.0
Principal43.90.00.00.00.09.50.0
Change in arrears 3/263.5234.5150.1147.2284.8-400.37.2
Interest109.2110.137.047.7111.5-179.12.7
Principal154.3124.4113.199.5173.3-221.24.5
Debt service (cash basis)158.7177.0186.7183.5160.7467.8501.1
Interest94.2100.995.596.197.0278.6204.2
Principal64.576.191.187.463.7189.2296.9
Memorandum items:
External public debt 4/
In billions of CFA francs2904.63160.03452.23747.74180.17828.27878.3
In percent of GDP93.3107.5116.6127.0141.9189.3156.6
Sources: Data provided by the Ivoirien authorities; and staff estimates.

Debt service on government and government-guaranteed debt, incl direct payments by public enterprises.

Includes rescheduled arrears.

External arrears definition differs from program definition, as it includes arrears to commercial banks. The decline in arrears in 1994 includes cancellations by Belgium, France, and Switzerland, and reschedulings in the context of the Paris Club agreement of March 1994.

Public and publicly-guaranteed external debt.

Sources: Data provided by the Ivoirien authorities; and staff estimates.

Debt service on government and government-guaranteed debt, incl direct payments by public enterprises.

Includes rescheduled arrears.

External arrears definition differs from program definition, as it includes arrears to commercial banks. The decline in arrears in 1994 includes cancellations by Belgium, France, and Switzerland, and reschedulings in the context of the Paris Club agreement of March 1994.

Public and publicly-guaranteed external debt.

Table 48.Côte d’Ivoire: External Debt Arrears, 1989-95(In billions of CFA francs at end of year)
1989199019911992199319941995
Total arrears756.61014.21178.71337.71632.23051.33079.9
Principal428.6553.9667.0760.3953.21497.51304.4
Interest319.1460.3505.6571.3667.41553.81775.5
Late interest 1/8.90.06.16.111.70.00.0
Multilateral institutions 2/13.18.51.88.117.60.00.0
Principal7.73.90.93.411.30.00.0
Interest5.44.60.94.76.30.00.0
Paris Club28.350.472.2101.4295.10.00.0
Principal5.920.235.539.2155.70.00.0
Interest13.530.230.656.1127.80.00.0
Late interest8.90.06.16.111.70.00.0
Reschedulable3.30.00.317.458.80.00.0
Principal0.00.00.08.729.40.00.0
Interest0.20.00.08.427.00.00.0
Late interest3.10.00.30.32.40.00.0
Rescheduled 1984-918.317.85.736.6161.30.00.0
Principal0.00.00.018.386.20.00.0
Interest4.917.84.417.072.60.00.0
Late interest3.40.01.31.32.50.00.0
Post-cutoff-date16.732.666.247.475.00.00.0
Principal5.920.235.512.240.10.00.0
Interest8.412.426.230.728.20.00.0
Late interest2.40.04.54.56.80.00.0
Other bilaterals 2/8.85.84.14.16.20.00.0
Principal7.13.83.23.44.80.00.0
Interest1.72.00.90.71.40.00.0
London Club706.4949.51100.61224.11313.33051.33079.9
Principal407.9526.0627.4714.3781.41497.51304.4
Interest 3/298.5423.5473.2509.8531.91553.81775.5
Sources: Data provided by the authorities; and staff estimates.

Late interest due to Paris Club creditors.

Arrears to official or semi-official creditors, not covered by Paris Club reschedulings.

Including late interest.

Sources: Data provided by the authorities; and staff estimates.

Late interest due to Paris Club creditors.

Arrears to official or semi-official creditors, not covered by Paris Club reschedulings.

Including late interest.

Table 49.Côte d’Ivoire: Total External Debt Outstanding, 1989-95 1/
1989199019911992199319941995
(In billions of CFA francs)
Total debt outstanding3,782.33,924.94,228.64,587.35,042.79,329.79,331.9
Public debt2,904.63,160.03,452.23,747.74,180.17,823.27,878.3
International organizations662.5622.4689.0784.5911.91,980.71,912.9
Of which: World Bank480.7492.4524.2546.5546.51,211.81,703.8
IMF106.9110.796.373.764.4175.4209.1
Paris Club963.31,117.61,268.71,399.61,637.12,521.02,669.2
Commercial banks1,135.71,260.71,310.41,347.01,367.73,070.93,087.4
Other bilateral creditors48.542.435.133.645.058.832.3
BCEAO94.6116.9149183218.4196.8176.6
Private debt877.6764.9776.5839.5862.61,501.51,453.6
Deposit money banks157.9108.9102.3119.591.288.562.4
Medium and long term debt70.367.291.597.347.637.634.5
Short term debt (net)87.641.710.822.343.650.928.0
Other private debt 2/719.7656.0674.2720.0771.41,413.01,391.2
(In billions of U.S. dollars)
Total debt outstanding13.115.315.316.317.117.518.9
Public debt10.012.313.313.614.214.616.0
International organizations2.32.42.72.83.13.73.9
Of which: World Bank1.71.92.02.01.92.32.4
IMF0.40.40.40.30.20.30.4
Paris Club3.34.44.95.15.64.75.3
Commercial banks3.94.95.14.94.65.76.3
Other bilateral creditors0.20.20.10.10.20.10.1
BCEAO0.30.50.60.70.70.40.4
Private debt3.03.03.03.02.92.83.0
Deposit money banks0.50.40.40.40.30.20.1
Medium and long term debt0.20.30.40.40.20.10.1
Short term debt (net)0.30.20.00.10.10.10.1
Other private debt 2/2.52.62.62.62.62.62.8
Sources: Data provided by the Ivoirien authorities; the World Bank; the BCEAO; and staff estimates.

Including interest and principal arrears.

Including suppliers’ credits and trade financing.

Sources: Data provided by the Ivoirien authorities; the World Bank; the BCEAO; and staff estimates.

Including interest and principal arrears.

Including suppliers’ credits and trade financing.

Table 50.Côte d’Ivoire: Public External Debt and Debt Service Indicators, 1989-95(In billions of CFA francs)
1989199019911992199319941995
Medium- and long-term public and publicly guaranteed debt2,904.63,160.03,452.23,747.74,180.17,828.27,878.3
Drawings 1/194.5274.8195.1176.9174.9655.1453.8
Amortization due 1/347.8276.0284.8264.9237.0365.6430.0
Rescheduling186.8119.6155.4127.30.0587.7223.4
Interest due 1/261.2255.1207.4193.1208.5289.6301.7
Stock of arrears756.61,014.21,178.71,337.71,632.23,051.33,079.9
Memorandum items:
Fund purchases13.141.712.7-0.0-0.094.689.5
Fund repurchases49.132.429.424.314.139.144.1
Fund credit outstanding106.9110.796.373.764.4175.4209.1
Medium- and long-term public and publicly guaranteed debt outstanding in percent of GDP93.3107.5116.6127.0141.9189.3156.6
Debt service payments in percent of exports of goods and nonfactor services 2/59.254.951.946.548.435.032.9
Before rescheduling and change in arrears59.254.951.946.548.435.032.9
Principal33.828.530.026.925.719.519.3
Interest25.426.421.919.622.615.513.6
After rescheduling and change in arrears15.418.319.718.617.525.022.5
Principal6.37.99.68.96.913.613.4
Interest9.210.410.19.810.511.49.2
Sources: Caisse Autonome d’Amortissement (CAA); and staff estimates.

Public and publicly guaranteed debt, including Fund transactions. Does not include service on non-guaranteed debt of public enterprises.

Includes debt service to the Fund.

Sources: Caisse Autonome d’Amortissement (CAA); and staff estimates.

Public and publicly guaranteed debt, including Fund transactions. Does not include service on non-guaranteed debt of public enterprises.

Includes debt service to the Fund.

Table 51.Côte d’Ivoire: Exchange Rate Developments, 1989-95
1989199019911992199319941995
Exchange rates
Period averages
CFAF per U.S. dollar319.01272.26282.11264.69283.16555.20499.15
CFAF per SDR414.71388.25397.21367.92390.76805.05741.24
End of period
CFAF per U.S. dollar289.40256.45259.00275.32294.77534.60490.00
CFAF per SDR380.32364.84370.48378.57404.89780.44728.38
Exchange rate indices (1990-100) 1/
U.S. dollar per CFAF85.2100.096.6102.896.049.054.4
SDR per CFAF93.6100.097.7105.599.448.252.4
Nominal effective exchange rate 2/80.5100.0106.9121.0134.978.584.4
Real effective exchange rate 2/3/97.6100.097.2100.397.360.771.0
Sources: IMF, International Financial Statistics, and Information Notice System.

A decline in the index indicates a depreciation of the CFA franc, period averages.

Trade-weighted, excluding Brazil.

Deflated by the relative consumer prices.

Sources: IMF, International Financial Statistics, and Information Notice System.

A decline in the index indicates a depreciation of the CFA franc, period averages.

Trade-weighted, excluding Brazil.

Deflated by the relative consumer prices.

Table 52.Côte d’Ivoire: Bilateral and Multilateral Nominal Effective Exchange Rates, 1980-96

(Index 1990-100) 1/

Weight19801981198219831984198519861987198819891990199119921993199419951996

Jan.-Jul.
European countries57.0112.4111.2106.9103.6102.3103.4102.1100.499.799.4100.099.4100.6103.752.252.552.4
France21.6100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.050.050.050.0
Germany10.6144.9140.4125.0113.2109.7110.4105.4100.799.499.3100.099.199.498.449.248.449.5
Italy6.592.094.993.790.691.397.097.697.999.297.7100.099.9105.5126.166.074.169.5
Netherland6.3140.7137.4122.0112.2109.7110.5105.5100.799.299.4100.099.099.398.149.048.149.1
Belgium5.8112.8111.5113.4109.5107.8107.8104.9101.2100.6100.6100.098.699.099.549.148.149.2
Spain2.990.691.089.5100.698.4101.8108.1109.7104.699.2100.098.5103.3119.764.566.866.0
Switzerland1.8155.8142.2121.6108.6105.6107.2101.697.396.4100.7100.099.8104.2102.548.446.547.0
Sweden1.492.185.687.592.887.188.394.697.094.692.9100.098.6100.8126.163.965.654.5
Other industrial countries29.3133.9107.094.783.575.175.087.093.889.385.8100.095.0100.594.847.451.252.0
United States11.7128.7100.583.171.662.360.978.690.591.485.2100.096.6102.896.049.054.453.3
Japan7.2201.7153.4143.1118.0102.6100.191.390.581.281.4100.090.190.373.834.735.339.6
United Kingdom5.998.788.584.784.283.383.995.698.591.592.8100.097.4104.0114.157.161.662.1
Canada3.1129.0103.387.875.669.271.393.6102.896.386.5100.094.9106.5106.157.464.062.5
Australia1.488.268.363.862.055.467.991.5100.891.084.0100.096.9109.3110.352.357.453.6
Developing countries13.71.11.11.21.52.03.15.78.715.529.3100.0185.6387.9854.61257.51761.01717.0
Brazil4.20.00.00.00.00.00.00.00.10.33.0100.0704.76450.882646.41267812.03012389.52664800.0
China2.036.832.730.027.027.334.151.564.384.980.4100.0105.8124.3146.180.686.884.7
Malaysia1.9103.585.571.761.454.055.974.984.388.485.3100.098.296.891.447.550.549.7
Columbia1.712.110.910.611.212.517.130.443.854.565.0100.0118.6139.8151.281.199.2111.9
Korea1.4109.796.785.878.471.074.897.8105.094.380.8100.0100.0113.4108.855.659.359.4
Taiwan1.3172.6137.9121.0106.991.990.5110.9106.897.383.8100.096.596.493.848.353.754.5
Indonesia1.343.734.529.934.634.736.753.280.683.581.8100.0102.1113.2108.657.466.467.7
Nominal effective exchange100.062.858.355.554.354.458.265.570.474.880.5100.0106.9121.0134.978.584.484.3
Source: IMF: Information Notice System.

Annual averages.

Source: IMF: Information Notice System.

Annual averages.

Table 53.Côte d’Ivoire: Bilateral and Multilateral Real Effective Exchange Rates, 1980-96

(Index 1990=100) 1/

Weight19801981198219831984198519861987198819891990199119921993199419951996
Jan.-Jul.
European countries57.0115.8112.2105.4100.196.894.9100.5103.3107.1104.1100.097.299.3101.563.070.968.9
France21.6111.5107.1102.999.396.192.599.0102.5106.8104.2100.098.5100.3100.362.470.168.5
Germany10.6113.4112.5102.394.893.593.998.5100.4104.6102.8100.097.297.895.458.864.864.9
Italy6.5141.7133.1121.3108.1102.5101.6105.9108.6112.0104.8100.095.6100.0116.973.990.981.9
Netherland6.3108.3107.997.392.090.891.195.398.0102.5102.6100.097.799.097.359.865.765.7
Belgium5.8106.5106.4107.0101.497.995.1100.2101.9107.1104.9100.097.299.299.260.466.866.8
Spain2.9133.6127.4117.8124.8114.4110.8118.6122.3119.0106.7100.094.697.6110.472.081.377.6
Switzerland1.8131.7122.8106.997.996.596.599.6100.6104.6107.0100.095.9100.397.657.762.362.2
Sweden1.4115.8104.5105.8108.998.694.9107.0112.5111.0103.4100.091.795.5116.773.283.868.8
Other industrial countries20.0128.4102.091.181.873.872.389.8100.498.791.3100.092.599.493.858.370.470.0
United States11.7123.595.179.770.361.258.981.797.0100.790.5100.094.3101.594.059.273.169.5
Japan7.2149.5118.0115.398.587.485.184.689.685.484.5100.088.791.175.144.451.757.5
United Kingdom5.9112.898.393.293.691.989.0107.5113.8107.8102.3100.093.6100.4110.768.481.580.3
Canada3.1138.9107.688.976.469.870.597.5109.7105.791.3100.091.4105.3105.271.889.786.0
Australia1.4116.489.480.875.467.579.0107.1116.3104.890.8100.095.4111.0112.466.279.472.1
Developing countries14.5106.882.873.270.866.971.1104.6114.9108.086.3100.0107.7106.988.157.072.865.1
Brazil4.2238.6166.3145.7150.8141.2145.4206.8182.5134.785.7100.0139.2121.772.356.090.873.0
China2.042.840.339.136.537.443.869.185.8102.083.0100.0104.5121.5128.973.977.465.4
Malaysia1.986.070.560.152.446.248.670.984.693.188.3100.095.793.987.354.863.960.8
Columbia1.761.447.139.536.936.941.568.185.188.384.6100.092.589.580.744.651.650.0
Korea1.4121.996.485.880.173.977.5108.6120.5107.988.5100.093.0103.596.858.968.765.8
Taiwan1.3140.9105.396.389.079.980.2107.2109.8105.687.9100.094.794.491.157.069.969.0
Indonesia1.360.346.139.242.940.641.862.893.395.688.9100.095.0102.091.156.267.864.4
Real effective exchange rate100.0118.0104.696.190.085.084.397.8103.9104.797.6100.097.2100.397.360.771.068.7
Source: IMF: Information Notice System.

Annual averages.

Source: IMF: Information Notice System.

Annual averages.

Table 54.Côte d’Ivoire: Nominal and Real Effective Exchange Rates, 1989-July 1996

(1990=100) 1/

NominalRealRelative
price
198980.597.682.5
1990100.0100.0100.0
1991106.997.2110.0
1992121.0100.3120.6
1993134.997.3138.6
199478.560.7129.3
199584.471.0118.9
1993
First quarter131.0101.477.3
Second quarter135.299.673.5
Third quarter135.697.271 6
Fourth quarter141.598.569.5
1994
First quarter73.955.174.3
Second quarter77.959.476.1
Third quarter81.163.878.5
Fourth quarter81.165.480.5
1995
First quarter82.168.282.9
Second quarter83.370.083.9
Third quarter84.269.982 9
Fourth quarter84.871.684.3
1996
First quarter84.669.482.0
Second quarter83.967.980.8
1995
July84.470.283.0
August84.169.782.7
September84.069.883.1
October84.471.284.2
November85.372.284.5
December84.871.584.3
1996
January84.970.182.5
February84.569.682.2
March84.468.681.5
April84.368.681.2
May83.667.680.8
June83.867.480.4
July84.567.479.9
Source: IMF, Information Notice System.

Period averages.

Source: IMF, Information Notice System.

Period averages.

Cote d’Ivoire: Summary of the Tax System as of June 30, 1996

TaxNature of TaxExemptions and deductionsRates
1.Taxes on income and profits
In Côte d’Ivoire, income taxes consist principally of a number of taxes on different categories of income, and a general income tax.
1.1Companies, partnerships, and individual enterprises
1.1.1Tax on industrial, commercial, and agricultural profits (Impôt sur les bénéfices Industriels, commerciaux et agrlcoles - BIC)•Annual scheduler tax levied on the net profits realized from activities carried on in Côte d’Ivoire.

•Medium-size enterprises are taxed on a simplified basis (régimé réel simplifié).

•Small enterprises are taxed with a global tax (impôt synthétique) which includes tax on commercial and industrial profits, business licenses and VAT.
•Consumer cooperatives, low-cost housing companies, and agricultural credit institutions are exempt.

•Authorized deductions include property taxes and losses incurred during five previous years.
•Individuals

•Companies

(Minimum presumptive tax (IMF) of CFAF 2,000,000 or 0,15% to 0.5% of turnover depending on the sector)s
25%

35%
1.2Individuals
1.2.1Tax on noncommercial profits (Impôt sur les bénéfices non-commerclaux BNC)Annual schedular tax levied on earnings from the practice of an independent professional activity.Deductions as in 1.1.125%
1.2.2Tax on salaries and wages (Impôt sur les traitements et salaires -ITS)Annual schedular tax levied on income from salaries, wages, pensions, and annuities of residents, withheld at source.Family allowances and certain pension payments are exempt. Retirement fund contributions (upto 10% of the pensionable gross and within the limit of CFAF 300.000) are deductible.1.5% of 80% of gross income
1.2.3National contribution (Contribution natlonale -ITS)
Same base as the ITS.Monthly WagePercent
0–50,000exempt
50,000–130,0001.5
130,000–200,0005.0
Over 200,00010.0
1.3Taxes on Income from capital:
1.3.1Tax on income from securities (Impot sur lerevenu des valeurs mobilises - IRVM)Withholding tax on income from stocks and bonds.Tax credit against IGR.Standard rate12%
Special rate on the distribution of profits exempt from BIC tax18%
Dividends (lots) on bonds25%
Certificates of deposit25%
Five-year and more bonds6%
1.3.2.Tax on income from claims (Impot sur le revenu des creances)With holding tax on interest.Tax credit against IGR.Flat rate18%
Interest paid by Ivoirien banks to:
Individuals13.5%
Enterprises (companies or individual enterprises)16.5%
Interest on three-year loans extended by financial institutions domiciled abroad to finance capital goods9%
2.Social Security contributions (Charges sociales)(i) Family allowances(i) & (ii) Ceiling: annual salary of CFAF 840,000(i) Employer5.5%
(ii) Workmen’s compensation(ii) Employer2–5%
(iii) Retirement.(iii) Employer2.4%
(iii) Ceiling: monthly salary of CFAF 1,500,000Employee1.6%
3.Employers’ payroll taxes (Taxes sur las salaires à La charge des employeurs)
3.1Payroll tax (Contribution à la charge des employeurs)Annual tax payable by employers on total wages and salaries paid to expatriate staff in cash or kind.Expatriate staff11.5%
3.2Apprenticeship tax (Taxe d’apprentissage)Annual tax payable by employers on total wages and salaries paid to staff in cash or kind.0.5%
3.3National contributionSame base as 3.21.5%
3.4Additional tax for vocational trainingSame base as 3.11.5%
4.Taxes on property
4.1Tax on developed property (Contribution fonciére des propriétés bâties)Levied on the rental value of buildings constructed with nontraditional materials.Standard15%
Partially exempted buildings9%
Main residence4%
Certain buildings vacant for more than one year4%
Buildings vacant for more than six months7.5%
4.2Tax on undeveloped property (Contribution fonciére des propriétés non-baties)Levied on assessed market value of developed urban property.(i) For first two years after purchase4%
(ii) Third year5%
(iii) Subsequent years6%
4.3Tax on insufficiently used land (Surtaxe fonclére sur les propriétés insuffisamment bâties)Levied on that portion of the market value in excess of three times the normal rental value.Not applicable if circumstances beyond the owner’s control prohibit construction.Same as 4.2
5.Taxes on goods and services
5.1Turnover and value-added taxes
5.1.1Value-added tax (Taxe sur la valeur ajoutée) (TVA)Based on turnover less purchases.Exports, some primary sector activities, and construction of low-cost housing are exempt from VAT.Standard:

Reduced:
20%

11.11%
5.1.2Prepayment on various taxes (Acompte sur divers impôts (ASDI)Prepayments on various taxes withheld at source (sales or imports)Sales to agricultural purchasing or production cooperatives, individual planters and farmers, nonindustrial fishermen, and mining research companies engaged in exploration, temporary admission prior to export.5% of sale price or c.i.f. customs value.

2.5% and 1.5% and 0.2% on certain widely consumed products with small profit margins.
5.2Selective excises on goodsLevied at the distribution stage.
5.2.1Petroleum products